Petrobras News

07 Oct 2019

Keppel, Sembcorp Reach Deal with Embattled Brazil Firm

When the Settlement Agreement is completed, Keppel O&M will have full ownership over the four uncompleted rigs to explore various options to extract the best value from the assets.  Keppel O&M is also in discussions with Magni Partners on the terms to complete the construction of the drilling rigs Urca (pictured) and Frade, which are about 92% and 70% completed respectively. (Photo: Keppel)

Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed in a massive corruption scandal.Keppel and Sembcorp Marine are among a host of firms caught up in the wide-ranging "Car Wash" investigation.

16 Aug 2019

MODEC Raises $1bln Bond for FPSO Project

PSO Cidade de Mangaratiba MV24. Image: MODEC

Japanese FPSO provider MODEC has decided to issue project bonds to international investors to refinance a floating production, storage and offloading  (FPSO) vessel chartered to the TUPI consortium.TUPI consortium is led by Petrobras with the aim of strategically diversifying its financing sources for MODEC’s entire FPSO charter business.MODEC, a unit of Mitsui E&S Holdings that builds floating oil-drilling platforms, said that project bonds are issued against future revenue from…

13 Aug 2019

Brazil Addresses Biofouling

Pic: International Maritime Organization (IMO)

Biodiversity can be threatened by organisms which can build up on ships' hulls and other marine structures, a process known as biofouling.A press note from International Maritime Organization (IMO) said that during a workshop in Arraial do Cabo, Brazil (5 August), experts on biofouling and invasive species and others took the first steps towards setting up a national task force to tackle the issue.According to the UN body, Brazil is one of 12 lead partnering countries in the GEF-UNDP-IMO GloFouling Partnerships project…

30 Jul 2019

Iranian Ship Departs Brazil, Second Bulker to Follow

The Bulker 'Bavand' / image Credit MarineTraiffic.com / © Mohammed Ehsani

An Iranian ship called Bavand, which had been at the heart of a geopolitical spat between Brasilia and Tehran, set sail from Brazil on Monday after receiving fuel from state-run Petroleo Brasileiro , the port of Paranaguá said.Meanwhile, a second Iranian ship, the Termeh, which set sail from Paranaguá port two days ago, was on Monday heading to the southern Brazilian port of Imbituba, where it is due to pick up a shipment of corn before heading back to Iran.The ships were stranded after Brazil's state oil company, known as Petrobras, refused to sell them bunker fuel in the wake of U.S.

26 Jul 2019

INSIGHTS: Noose Tightens Around Iranian Shipping

Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions, an allegation that Iran denies. Image Credit: © MarineTraffic.com

Somewhere on its journey from the waters off Iran, around Africa's southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines off Gibraltar, raising tensions in the Gulf where Iran detained a UK-flagged ship in retaliation.Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions…

25 Jul 2019

Brazil Court orders Petrobras to Refuel Iran Vessels

File Image: AdobeStock / © Renaschild

Brazil's top court on Thursday ordered state-run oil company Petroleo Brasileiro SA to refuel two Iranian grain vessels stranded on the Brazilian coast due to U.S. sanctions holding up sales of fuel needed for their return trips.Chief Justice Dias Toffoli overturned a lower court ruling that allowed Petrobras, as the oil major is known, to refrain from fueling the vessels.Petrobras had denied service, citing the risk of consequences from U.S. sanctions. However, the risk is reduced if it is simply obeying a Supreme Court ruling…

18 Jul 2019

Iran Grain Ships Stranded in Brazil due to U.S. Sanctions

Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertilizer. They were expected to load corn and return to Iran, but lacked enough fuel for the trip, the port operator in Paranaguá told Reuters.Food is not covered by U.S. sanctions, and Iran is one of the largest buyers of Brazil's agricultural commodities, importing more than 2.5 million tonnes of Brazilian corn so far this year — more than any other country.However, that trade is not usually carried by ships flying the Iranian flag.

03 Jul 2019

Brazil Searches Sembcorp Yard in Graft Probe

(File photo: Sembcorp Marine)

Singaporean rig builder Sembcorp Marine said on Wednesday that authorities had searched its shipyard in Brazil as part of a graft investigation, sending its shares lower and underlining the staying power of Brazil's ongoing "Car Wash" corruption probe.Sembcorp Marine said the search was related to investigations against former consultant Guilherme Esteves de Jesus, adding that Martin Cheah Kok Choon, the former president of the Estaleiro Jurong Aracruz shipyard, was also under investigation.In a separate statement…

21 Jun 2019

Modec Signs LOI for FPSO with Petrobras

Image: MODEC

MODEC Inc. received a letter of intent (LOI) from Petróleo Brasileiro for the supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for the Búzios field.The firm time charter period of the contract is 21 years, it said in a press release.The new LOI will be the fifth FPSO deployed at the Búzios field, however it is the first chartered production unit for the region. Búzios is one of the offshore oil and gas fields in Brazil which forms part…

14 Jun 2019

Petrobras Sells TAG, Gets $8.7 bln

Image: Petrobras

Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).According to a stock exchange annoucement, Petrobras received a total of 33.5 billion reais ($8.69 billion) from buyers on Thursday for the 90 percent stake it had in TAG.Petrobras will continue to use natural gas transportation services rendered by TAG…

14 Jun 2019

Shawcor Bags $49m in Pipe Coating Contracts

(Photo: Shawcor)

Energy services company Shawcor’s pipe coating division has entered into several contracts with an international EPC contractor to provide coating services for offshore pipeline projects.The projects include: Petrobras’ Mero in Brazil; ConocoPhillips’ Tor 2 in Norway; BP’s Atlantis in the Gulf of Mexico; Energean’s Karish in the Mediterranean Sea; Shell’s Powernap in the Gulf of Mexico; Equinor’s P1 and Duva in Norway.These projects will be executed within Shawcor’s network of coating facilities…

28 May 2019

Huge Semisub Crane Vessel gets AIP

(Image: OOS International BV)

China Merchants Offshore Technology Research Center (CM-OTRC), the R&D center for China Merchants Industry Holdings (CMI) of Shenzhen, China, have completed the basic design of the OOS Zeelandia a new semisubmersible crane vessel (SSCV) that, when built, will have the largest lifting capacity in the world. Designed in close collaboration with OOS International B.V. (OOS) of the Netherlands, it is being classed by American Bureau of Shipping (ABS), who have recently granted Approval in Principle (AIP) to the vessel design.With a total lifting capacity of up to 25…

17 May 2019

EnscoRowan Wins Arbitration Against SHI

File photo: Ensco Rowan

Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming interest on this amount and costs incurred in connection with the matter.In April 2016, EnscoRowan (then Ensco) initiated arbitration proceedings in London against SHI for the losses incurred in connection with a drilling services agreement for ENSCO DS-5 that was voided by customer Petrobras.In January 2018…

14 May 2019

K Line Offshore Sells 15-year-old PSV

Image: K Line Offshore

The offshore support vessel provider for the global oil and gas industry, K Line Offshore has sold one of its platform supply vessels (PSV) to Gard Supply AS.The Norway-based offshore division of Japan's K Line said that the the 2004-built PSV KL Arendalfjord is its very first ship."A Protocol of Delivery and Acceptance was signed and KL Arendalfjord was delivered by K Line Offshore AS(KOAS) to Gard Supply AS in Tønsberg, Norway," said the press release from the shipowning and operating company with high end PSVs and two of the world's most powerful AHTS.

13 May 2019

Wilson Sons Vessel Converted in Brazil

Photo: Damen

A platform supply vessel (PSV) owned and operated by Wilson Sons UltraTug Offshore has been converted to a shallow dive support vessel (SDSV) for a Petrobras job offshore Brazil.The vessel, Fulmar, needed an upgrade from DP1 to DP2 Class notation, and the work was completed in April by Wilson Sons Estaleiros in partnership with Damen at the Wilson Sons shipyards in Guarujá.Damen said it carried out quick scan and later a feasibility study for the project before Wilson Sons had been awarded the contract.Daniel Pereira, Maintenance Manager said, “The project was not without its challenges.

06 May 2019

Natural Gas Liquid Market to Cross 14 mbl/day by 2025

Pic: Gazprom Neft

Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry along with the manufacturing of high value-added petrochemicals will augment the industry growth.In addition, up-surge in investments toward automotive sector coupled with expansion of various industrial base including manufacturing…

26 Apr 2019

Petronas Coming to Brazil

Pic: Petronas

Malaysian national oil company Petroliam Nasional Bhd (Petronas) has acquired a 50% equity stake in Brazil's Tartaruga Verde field following a Sale and Purchase Agreement (SPA)with Brazil’s Petróleo Brasileiro SA (Petrobras).Petronas said in a press release that its subsidiary Petronas Petróleo Brasil Ltd (PPBL) acquired the stake in Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both located in deep waters of the Campos Basin…

19 Feb 2019

2021 to See 33 More FPSOs

Graph: Rystad Energy

A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector.Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of the FPSOs will require production capacity of more than 80,000 barrels per day.Rystad said that the high capacity demand would come mainly from the developments in Guyana and Brazil where operators such as ExxonMobil, Equinor, and Petrobras…

25 Feb 2019

DOF Bags Three ROV Contracts in Brazil

Image: DOF Subsea

Norwegian supply shipping company DOF Subsea has been awarded contracts for three remotely operated (ROV) Support Vessels (RSV) with Petroleo Brasileiro S.A. (Petrobras).All contracts have a firm duration of three years and can be extended for another two years, informed the offshore support vessel owner.The vessels allocated for the contracts are Skandi Commander, Skandi Olympia and Skandi Chieftain, all owned by DOF Rederi AS (100 % owned by DOF ASA).Each vessel will be equipped with two state of the art work class ROVs owned and operated by DOF Subsea Group.

22 Apr 2019

Petrobras Extends BassDrill Beta Contract

BassDrill Beta. Image: Atlantica Tender Drilling Ltd

Atlantica Tender Drilling, a provider of management and contract drilling services for oil and gas wells for the offshore tender assist market worldwide, announced that Petrobras has extended the rig BassDrill Beta by 180 days."Petrobras exercised its right to extend the Beta contract by 180 days commencing in September 2019 through March of 2020," said a press release from theAtlantica has two semi tender units are secured on long-term development contracts. Atlantica's “BassDrill Beta” is a semi-submersible tender assist vessel built by Dalian Shipbuilding Industry.

22 Apr 2019

TechnipFMC Orders Vallourec Pipes for Mero 1

Image: Vallourec

The provider tubular solutions for the energy markets Vallourec Soluçoes Tubulares do Brasil has been awarded by TechnipFMC in Brazil to supply around 12,000 tons of seamless steel rigid line pipe with outside diameters 8” and 10”.The pipe will be used in the fabrication of the riser and flowline system for interconnecting 13 wells (6 production wells and 7 water alternate gas injection wells), to be installed in the pre-salt field Mero 1, which is part of the giant Libra reservoir.Libra covers an area of 1…

05 Apr 2019

Petrobras Takes Two of Six Port Terminals in Brazil Auction

Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450 million reais ($117 million) in the auction of the terminals — five in the Miramar port in the city of Belem and one in the Vila do Conde port in the city of Barcarena.The rights to operate the terminals are the latest in a slew of assets Brazil is selling as part of its drive to shore up public finances and reduce a gaping budget deficit.In an auction broadcast online, Petrobras Distribuidora SA - also known as BR Distribuidora - won a 20-year lease on a terminal in the port of Miramar with a bid of 50 million reais ($12.94 million).Petrobras Transpo

27 Mar 2019

Petrobras Sues Samsung Heavy Industries

© Lichtwolke / Adobe Stock

Samsung Heavy Industries said on Wednesday that Petrobras America filed a lawsuit against the South Korean shipbuilder with a U.S. court, claiming 283 billion won ($249.32 million) in damages.Petrobras America claimed that it paid excessive charter fees for a drill ship built by Samsung Heavy, Samsung said in a regulatory filing. Samsung delivered the vessel to U.S.

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