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Seadrill to bag $549 million for Petrobras contracts in Brazil

Offshore drilling contractor Seadrill Limited has been awarded two contracts worth $549 million by Petrobras for the West Carina and West Tellus rigs, which will work on the Búzios field offshore Brazil. The company reported on Friday that two contracts were secured with Petroleo Brasileiro S.A. (Petrobras) for work in Brazil. Stuart Jackson, Seadrill’s Chief …

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MGN 662 (M) Templates for the UK monitoring, reporting and verification (UK MRV) regime

Ship operators shall draw up the monitoring plan referred to in Article 6 of Regulation (EU) 2015/757 using a template corresponding to the model set out in Annex I. Ship operators may split the monitoring plan into a company-specific part and a ship-specific part, provided that all elements set out in Annex I are covered. …

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Amidst outcries to phase out fossil fuels, UK’s OGA chairman stands firm on continuing North Sea exploration for foreseeable future

UK’s petroleum regulator, the Oil and Gas Authority (OGA), has revealed that its chairman firmly insists on continuing North Sea exploration and describes it as vital to meet the UK’s energy needs, despite the ever-growing outcries from environmental groups calling for phasing out coal and ending fossil fuels subsidies. Many environmental groups such as Greenpeace …

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Trinity reveals farm-down goals after getting green light for field development plan off Trinidad

Trinidad and Tobago-focused oil production company, Trinity Exploration & Production, has disclosed its farm-down plans, following the MEEI’s approval of its field development plan (FDP) for the Galeota asset development (GAD) project, off the East Coast of Trinidad. The company reported on Thursday that the approval for the field development plan (FDP) for the Galeota …

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Soaring oil & gas demand to catapult well intervention over $14 billion by 2031, Fact.MR says

Fact.MR, a market research company, expects the global well intervention market to exceed $14 billion by 2031, since, offshore oil and gas exploration projects are expected to double the growth of the well intervention market, as operators seek to increase production from existing fields amid the skyrocketing oil and gas demand. The firm believes that …

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