Late last year, a new marine seismic player emerged in Norway. Named Shearwater GeoServices, the geophysical company was created through a 50\50 joint venture between two Norwegian companies, the shipping company GC Rieber and the investment company Rasmussengruppen. As part of the deal, Shearwater took over four seismic vessels from its co-owner, GC Rieber; Polar Empress, Polar Duke, Polar Duchess, and Polar Marquis. Offshore Energy Today has interviewed Shearwater’s chief executive, Irene Waage Basili, who had joined Shearwater initially on a temporary basis then later as a permanent CEO.
Month: April 2017
U.S. Gulf of Mexico oil production breaking records. Set to rise further | Offshore Energy Today
Moody’s changes Petrobras outlook to positive | Offshore Energy Today
The rating agency Moody’s upgraded corporate debt rating for the Brazilian oil giant Petrobras from B2 to B1 and changed the outlook from stable to positive. According to Petrobras, Moody’s highlighted the continuous improvement of the company’s liquidity profile and financial metrics over the last quarters on its report, due to greater cost efficiency and the new fuel pricing policy, among other factors.Those factors have also helped the company to maintain access to capital markets and refinance part of its debt; so far in 2017 the company has tendered approximately $6 billion in notes and issued $4 billion in new notes, which allowed it to reduce debt and extend its debt maturity profile.
Source: Moody’s changes Petrobras outlook to positive | Offshore Energy Today
Eni orders 3D seismic program over Irish offshore license | Offshore Energy Today
Italian oil major Eni and its partners have agreed to underwrite and license 1,800 square kilometers of new multi-client 3D seismic data over the Frontier Exploration License (FEL) 3/04 offshore Ireland.FEL 3/04 is situated in a water depth of 1,500 meters and is located some 200 kilometers off the southwest coast of Ireland. The license is operated by Eni on behalf of its partners Repsol, Providence Resources, and Sosina Exploration.According to a Monday statement by Providence Resources, a partner in the license, the 1,800 square-kilometer seismic program over the license will be conducted by CGG’s Oceanic Caspian.
Source: Eni orders 3D seismic program over Irish offshore license | Offshore Energy Today
Activists confront seismic vessel Amazon Warrior off New Zealand | Offshore Energy Today
Seismic vessel Amazon Warrior has been intercepted offshore New Zealand by the Māori people demanding a stop of a seismic survey in the tribal waters off the coast of Ngāti Kahungunu. Te Matau a Māui, a traditional double-hulled ocean voyaging canoe belonging to the people of Ngāti Kahungunu (Hawkes Bay), confronted the world’s largest seismic survey ship, the Amazon Warrior, on April 3.Te Matau a Māui and its crew converged with Greenpeace’s vessel, Taitu, to confront the Amazon Warrior, which is conducting the seismic survey in Te Ikaroa-Rāwhiti waters in search of oil off the Hawkes Bay coastline.The protesters asked the crew of the seismic vessel to leave the waters immediately.
Source: Activists confront seismic vessel Amazon Warrior off New Zealand | Offshore Energy Today
Talks underway to ship east Mediterranean gas to EU via pipeline | Offshore Energy Today
European Commissioner for Climate Action and Energy Miguel Arias Cañete has said that the gas found in the Mediterranean Sea will be one of the keys towards boosting European energy security.He said this during the ministerial meeting at EastMed Energy Summit hosted by Isreali energy minister Yuval Steinitz in Tel Aviv on Monday. The energy ministers of Greece, Cyprus and Italy joined Canete and Stenitz, to discuss shipping the eastern Mediterranean gas via pipeline to Europe.
Source: Talks underway to ship east Mediterranean gas to EU via pipeline | Offshore Energy Today
Gazprom Neft, ONGC Videsh sign joint offshore exploration deal | Offshore Energy Today
Gazprom’s subsidiary, Gazprom Neft, has signed a memorandum of understanding with India’s ONGC Videsh on joint implementation of offshore projects.Gazprom Neft and ONGC Videsh, a subsidiary of India’s Oil and Natural Gas Corporation, signed the deal in the presence of the Russian Minister of Energy Alexander Novak on Thursday, March 29, during the International Arctic Forum.At the forum, named “Arctic: Territory of Dialogue” taking place in Arkhangelsk, the companies announced its mutual intent to join forces for implementation of offshore hydrocarbon production projects in Russia and elsewhere.
Source: Gazprom Neft, ONGC Videsh sign joint offshore exploration deal | Offshore Energy Today
FAR eyes new West African assets with CNOOC pact | Offshore Energy Today
Australian oil company FAR has signed an Area of Mutual Interest (AMI) agreement with CNOOC UK Limited, which covers selected licenses offshore Senegal and The Gambia within the designated area.The Australian oil company informed on Friday that the AMI provides the two companies with agreed arrangements to partner in evaluating, bidding, negotiating and managing joint ventures on farm-in and open acreage opportunities for oil and gas licenses. The AMI agreement period is for two years.In combination, FAR and CNOOC UK, a subsidiary of CNOOC Limited, bring together expertise of the Mauritania-Senegal-Guinea-Bissau (MSGB) offshore basin and the capabilities of an international deep water operator, FAR explained.
Source: FAR eyes new West African assets with CNOOC pact | Offshore Energy Today
Oil retreats, set to become worst-performing asset in first quarter | Offshore Energy Today
LONDON (Reuters) – Oil prices fell on Friday after a three-day rally ran out of steam due to a stronger dollar, promising to notch up the oil market’s worst-performing quarter since 2015 as investors fret that growing U.S. supplies are undermining OPEC-led cuts.Brent crude futures have made the biggest losses across global asset classes this quarter. In March, the contracts posted the biggest monthly losses since July as growing U.S. crude inventories and drilling activity counterbalanced production cuts elsewhere in the world.
Source: Oil retreats, set to become worst-performing asset in first quarter | Offshore Energy Today
U.S. Gulf of Mexico rig fleet up by four units | Offshore Energy Today
The U.S. weekly offshore rig count has risen by no less than four units, oilfield services firm Baker Hughes said in its report on Friday. BHI Rig Count: U.S. +15 to 824 rigsU.S. Rig Count is up 15 rigs from last week to 824, with oil rigs up 10 to 662, gas rigs up 5 to 160, and miscellaneous rigs unchanged at 2.U.S. Rig Count is up 374 rigs from last year’s count of 450, with oil rigs up 300, gas rigs up 72, and miscellaneous rigs up 2.The U.S. Offshore Rig Count is up 4 rigs from last week to 22 and down 4 rigs year over year.BHI Rig Count: Canada -30 to 155 rigsCanadian Rig Count is down 30 rigs from last week to 155, with oil rigs down 15 to 55, gas rigs down 14 to 100, and miscellaneous rigs down.Canadian Rig Count is up 106 rigs from last year’s count of 49, with oil rigs up 44, gas rigs up 62, and miscellaneous rigs unchanged.
Source: U.S. Gulf of Mexico rig fleet up by four units | Offshore Energy Today