News

Saipem has been awarded a new offshore contract by Azule Energy Angola S.p.A., subsidiary of Azule Energy Holdings Limited, an incorporated joint venture between Eni and bp.  The award concerns the development of the Ndungu field as part of Agogo...

Petrobras estimates that the revitalization project of the Marlim field in the Campos Basin will produce an additional cumulative volume of 860 million barrels of oil equivalent.  Mariana Cavassin, Executive Manager of Production Development Projects at Petrobras, told participants at...

Consultancy Group, Wood Mackenzie puts Suriname’s oil resource count at more than 2.4 billion barrels and its natural gas resources at 12.5 trillion cubic feet (tcf).  Based on WoodMac’s numbers, assuming one trillion cubic feet of gas equals 176 million...

Upstream has reported that SBM Offshore could take the upper hand in competition with MODEC to build and deliver Suriname’s first floating production, storage and offloading (FPSO) vessel, as it was “pre-selected as the preferred bidder.” Fabio Palmigiani, the publication’s...

Petronas’ Roystonea-1 and Fusaea-1 discoveries in Block 52 offshore Suriname are estimated to hold recoverable resources approaching 400 million barrels, according to new numbers released by UK-based consultancy group Wood Mackenzie.  “This could be enough to support an FPSO ...

Touchstone Exploration, a Trinidad-focused energy company, announced its financial outcomes for the first quarter of 2024, which note a 20% decrease in sales from oil and natural gas compared to the last quarter of 2023. In the latest quarterly financial...

Seatrium Limited said it was awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of the Jaguar floating production, storage and offloading (FPSO) vessel destined for Guyana.  Seatrium’s scope of work...

Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's achievements. This initial spark ignited the creation of the 25 Influential Women Leaders Award, aimed at amplifying the voices and...

ExxonMobil Guyana has increased its estimate of reserves in its Stabroek Block development projects by 600 million barrels on top of the estimates announced when the projects were sanctioned. “We review the reserves of each project each year and make...

Petrobras, the Brazilian oil giant, made a sudden announcement on Tuesday evening, about the departure of Jean Paul Prates from his position as Chief Executive. The company disclosed in a statement that it had received a request from Prates...