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TechnipFMC secures subsea contract for Lapa Pre-Salt Field in Brazil

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UK-based TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a contract for the Lapa field by Total E&P do Brasil Ltda on behalf of the Lapa Field Consortium, comprised of Total (35%), Shell Brasil Petróleo Ltda. (30%), Repsol Sinopec Brasil...
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Pluspetrol farms into Suriname

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Buenos Aires-based Pluspetrol has taken further action to increase its holdings in Suriname. According to Suriname's state oil company Staatsolie, Tullow Oil has transferred a part of its interest in the production sharing contract (PSC) for offshore block 62 to...
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Venezuela pledges to honor oil commitments to Cuba despite sanctions

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(Reuters) - Venezuela will “fulfill its commitments” to Cuba despite United States sanctions targeting oil shipments from the South American country to its ideological ally, Foreign Minister Jorge Arreaza said on Monday. Washington on Friday imposed sanctions on 34 vessels...
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US to sanction 34 vessels transporting oil from Venezuela to Cuba

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US sanctions will hit 34 vessels owned or operated by Venezuela state oil company PDVSA and two companies which are transporting crude to Cuba. This is according to Vice President Mike Pence who said on Friday "Venezuela's oil belongs to...
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Russia military presence in Venezuela a threat to Guyana’s security, development of offshore resources – Persaud

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Guyana’s former Minister of Natural Resources and the Environment Robert Persaud says Russia has no business meddling with Venezuela’s march to a liberal democracy and called for the Government of Guyana to be clear on its stance on the...
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Staatsolie begins near-shore drill campaign in Suriname

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Suriname state oil company Staatsolie began a near-shore drill campaign on Tuesday with the West Castor drilling platform. Waterkant reports that this involves drilling, where Marai is the first well off the Surinamese coast. A test drilling of the American Apache...
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Country with largest oil reserves now forced to ration electricity

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The South American country of Venezuela, which holds the world’s largest oil reserves, is low on energy, with widespread blackouts and new plans to ration electricity. Venezuelan President Nicolás Maduro announced on Sunday that his country will ration electricity, a...
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Brazil oil regulator announces details on October deepwater oil auction

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(Reuters) Brazil's oil regulator ANP on Monday announced details of the 16th-round auction of oil areas under the concession regime, stipulating a higher bonus amount for the CM-541 block in the Campos Basin, which surpasses 1 billion reais ($259...
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Trinidad & Tobago’s ‘imposition of 12.5% royalty’ could backfire – GlobalData

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Trinidad and Tobago is looking to attract exploration investment with a new offshore bid round. However, the introduction of a royalty imposed on investors may be counter-productive for the government in the longer term, according to GlobalData, a leading data...
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Russia is sending troops and military equipment to Venezuela

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(Vice News) A pair of Russian military planes landed in the Venezuelan capital of Caracas Saturday, carrying troops and military equipment. An official in Caracas said Monday that members of Russia’s military were in Venezuela for talks about training and...
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An inside look at the complex nature of moving a drillship 

Relocating a drillship requires careful planning and execution, according to Richard Wells, International Logistics Manager at Stena Drilling, who...

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