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Petrobras grants Subsea7 US$1.25 billion in contracts for pipelay support

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Subsea7 said it was awarded four long-term day-rate contracts from Petrobras, for pipelay support vessels (PLSVs) commencing in 2025. The contracts have a combined value of over US$1.25 billion and will be recorded in the backlog in the second quarter. The...
Business Wire

Ceres signs contract with Shell for green hydrogen

Contract to design a 10MW pressurised solid oxide electrolyser (“SOEC”) module to produce green hydrogen at 36kWh/kg Builds on the data being generated from the existing demonstration of Ceres’ technology at Shell’s R&D facility in Bangalore, India Develops pathways for the...
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Subsea7 secures “super major” Petrobras contract for Búzios 9 field development

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Subsea7 has been awarded a super-major contract by Petrobras for the Búzios 9 field development. The field is located approximately 180 kilometers off the coast of Rio de Janeiro, Brazil, at a water depth of 2,000 meters in the...
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ConocoPhillips to acquire Marathon Oil for US$22.5 billion

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ConocoPhillips said it entered into a definitive agreement to acquire Marathon Oil Corporation in an all-stock transaction with an enterprise value of US$22.5 billion, inclusive of US$5.4 billion of net debt. Under the terms of the agreement, Marathon Oil shareholders...
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Contracts for Guyana, Brazil FPSO projects push Seatrium’s Q1 earnings 

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Seatrium Limited, a global provider of engineering solutions to the offshore, marine, and energy industries, reported a net book order of S$25.8 billion (approximately US$19.1 billion) for the first quarter of 2024.  This order includes 31 projects scheduled for delivery...
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Namibia has potential to match Guyana’s oil success – Africa Energy Chamber head

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Namibia has the potential to replicate Guyana's success in the oil sector, said NJ Ayuk, Chairman of the African Energy Chamber.  In a recent conversation with Petroleum Economist’s editor-in-chief, Paul Hickin, Ayuk praised both countries for their rich geological resources...
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Noble’s new contracts valued at US$215 million

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Noble Corporation said, in its first quarter earnings release, that new contracts since its prior-quarter update totaled US$215 million (including mobilization payments). These include: Noble Venturer was awarded a three-well contract for an estimated 150 days with Trident Energy in Equatorial...
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QatarEnergy inks ‘industry’s largest single shipbuilding contract ever’ with China’s CSSC

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QatarEnergy said it signed an agreement with China State Shipbuilding Corporation (CSSC) for construction of 18 ultra-modern QC-Max size liquefied natural gas (LNG) vessels, a major boost in its LNG fleet expansion program. The new vessels, with a capacity of...
News

TechnipFMC secures major subsea contract for Exxon’s Whiptail project

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TechnipFMC has been awarded a large contract in Guyana’s Stabroek Block by ExxonMobil Guyana to supply subsea production systems for the Whiptail project. The contract value is between US$500 million and US$1 billion. This follows the greenlighting of the project...
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S&P sees Guyana’s oil production tripling in value to US$33 billion by 2030

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Guyana’s annual oil exports are expected to triple in value from US$11 billion in 2023 to US$33 billion by 2030, according to a recent report from S&P Global Commodity Insights.  "In real terms, the value of Guyana's oil production is...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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