Proserv Secures $5.5 Mln Repsol Contract
ways together. “The revitalization of the Yme field, with Repsol bringing forward a revised plan for development and operation, is a prime example of how Proserv’s approach can add value by improving existing equipment reliability and maximizing field life.” The recoverable oil reserves for the field are estimated at approximately 65 million barrels at 10 year’s total production with first oil planned for the first half of 2020. This latest award builds on the success of the subsea controls brownfield upgrade project completed by Proserv for Statoil’s Visund
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
. Among companies bidding at Wednesday's auction are China Offshore Oil Corp, ExxonMobil and Total SA. More data sales, which are tracked by Mexico's energy regulator, are expected for further rounds and joint ventures this year as the country puts some 66 percent of its prospective oil reserves on the block. Some energy firms only pay for detailed data packages after they win areas, two executives involved in exploration work in the Americas said. "The geological data business in Mexico has been good, not spectacular, but good," said a source at Schlumberger
Mexico Announces Bid Terms for First Deep Water Oil Joint Venture
Mexico's oil regulator on Wednesday announced bid terms for a first-ever joint venture between state-owned oil company Pemex and would-be private partners to develop oil reserves in the Gulf of Mexico's deep waters. The call for bids to partner with cash-strapped Pemex on the Trion light oil field follows the constitutional energy reform enacted in 2013 which promised to reverse a decade-long slump in crude production. (Reporting by David Alire Garcia, Ana Isabel Martinez and Adriana Barrera)
Greece to Evaluate Deep-sea O&G Exploration Bids
Greece will conclude the evaluation of deep-sea oil and gas exploration bids in the coming weeks and will name the preferred bidders soon after, its energy minister said on Friday, as the country seeks to tap into its limited oil reserves. Plunging crude oil prices have cut spending on oil projects around the world but cash-strapped Greece is pushing ahead with investment in the industry in a bid to reduce dependence on oil imports and boost public finances. "We are evaluating three bids made by oil companies whose financial strength, experience and infrastructure ensure they
Police, Dive Companies Find Many Uses for Side Scan Sonars
facility in Massachusetts for a free day of factory training. Another law enforcement agency using the side scan is the Dubai Police in the United Arab Emirates. This desert kingdom between Saudi Arabia and Oman is small by geographic standards, but holds the world’s 7th largest oil reserves and is one of the wealthiest countries in the middle east. Situated on the Persian Gulf is UAE’s most populous city, ultramodern Dubai, which is a hub for international business and travel. The 15,000 strong police force is responsible for the safety and security of 2 million people and
Keppel Bags BRL 500 mln MODEC Project
have always delivered to our satisfaction. Three units, which have been completed safely and ahead of schedule, are operating successfully in their respective fields. We look forward to working with them on our latest two FPSO collaborations. "Brazil has one of the most significant offshore oil reserves in the world. We are confident of the long term goal by Brazil to increase oil production and our partnership with a reputable yard like BrasFELS enables us to meet their needs in a timely and safe manner." BrasFELS' current job for MODEC is the integration and commissioning of the FPSO
Large Oil Discovery Confirmed in Brazil
66 percent owned by Petroleo Brasileiro SA, as Petrobras is known. Petrobras is also the operator. Galp Energia SGPS SA owns 14 percent, QGEP owns 10 percent and Barra owns 10 percent. Discovered in 2012, Carcará was found to have up to 400 meters of continuous and connected oil reserves with excellent porosity and permeability. At the time it was the biggest oil column ever found in Brazil's so-called subsalt region, an area where large oil resources are trapped deep beneath the seabed by a layer of mineral salts. The Carcará N well confirmed the size of the column
The Deepwater Sector's Perfect Storm
and demand. This will self-correct. The question is when (not whether) prices will rebound to a higher level. As for Petrobras, the company will sooner or later resolve its financial and contracting issues. Petrobras is a powerful company with 14 billion barrels of proved oil reserves. It is a technology leader in the deepwater sector. The issues that caused the implosion will be resolved and the company will get back to implementing its business plan to grow oil production over the next five years. For starters, within the next few weeks
The Deepwater Sector's Perfect Storm
in supply and demand. This will self-correct. The question is when (not whether) prices will rebound to a higher level. As for Petrobras, the company will sooner or later resolve its financial and contracting issues. Petrobras is a powerful company with 14 billion barrels of proved oil reserves. It is a technology leader in the deepwater sector. The issues that caused the implosion will be resolved and the company will get back to implementing its business plan to grow oil production over the next five years. For starters, within the next few weeks Petrobras will likely lift the constraints
February 2024
