Key Takeaways SLB secured a contract with Petrobras for oilfield services in up to 35 Santos Basin wells.The project uses SLB's digital and electric completions tech for real-time production insights.Well completion work is set to begin in mid-2026, supported by SLB's advanced ICV technology.SLB (SLB) , a leading global oilfield services company, has secured a contract from the Brazilian state-owned energy company, Petrobras S.A. (PBR) . The contract involves providing oilfield services and technology for u ...

Recently, the International Energy Agency (IEA) identified Brazil as a key non-OPEC oil producer responsible for driving global production growth. A swathe of world-class ultra-deepwater pre-salt oil discoveries, the first made in the Lula field during 2006, are driving a massive offshore oil boom. Not only is Brazil Latin America’s largest oil producer, but the country is receiving substantial investment from Big Oil, which is driving production to record highs. By July 2023, petroleum output for the firs ...

Key Takeaways Petrobras granted DOF three subsea service contracts worth $390M after a competitive tender.The deals cover 4,000 planned inspections across Santos, Campos and Espirito Santo basins.DOF will deploy vessels with ROVs and diving ships, starting operations in 2026 for three years.Petrobras (PBR) , Brazil’s state-owned integrated oil and gas company, has taken another decisive step in reinforcing its dominance in offshore energy operations. The company has entrusted DOF Group, a leading vessel ope ...

Petrobras failed one part of a test needed to obtain a license to drill in the Foz do Amazonas basin, Brazil's environmental agency wrote in its review made public on Wednesday. ...

Key Takeaways Petrobras, Exxon and TechnipFMC asked Cade to review the Subsea7-Saipem merger.The firms warn that the deal may hike costs and reduce options in subsea oil and gas projects.The merger would eliminate opportunities for rival companies to participate in Brazil's public tenders.Per Reuters, Petróleo Brasileiro S.A. - Petrobras (PBR) , one of the largest integrated energy firms in Brazil, alongside Exxon Mobil Corporation (XOM) and TechnipFMC plc (FTI) , has petitioned Brazil’s antitrust regulator ...

ExxonMobil, Petrobras and TechnipFMC have raised objections to the planned merger between Italy's Saipem and Norway's Subsea 7, urging Brazil’s antitrust regulator to block the transaction, reported Bloomberg. The companies have formally requested participation in the watchdog’s review, warning that the deal would substantially affect competition in the oilfield services sector and drive prices higher. The concerns highlighted the markets for subsea umbilical, risers and flowlines, as well as the supply ...

Brazilian environmental agency Ibama approved Petrobras' emergency response test in the Foz do Amazonas basin, while also requesting some adjustments be made before granting the state-run oil firm a l... ...

TechnipFMC (NYSE:FTI) said late Tuesday it was awarded a "significant" subsea production systems contract with Petrobras (PBR) for work offshore Brazil; the company considers a "significant" contract in the $75 million-to-$250 million range. TechnipFMC (NYSE:FTI) said it will design, engineer ...

Key Takeaways TechnipFMC won a $75M-$250M Petrobras contract for subsea production systems.The deal spans design, engineering, manufacturing and life-of-field services.Systems will be built and serviced in Brazil, boosting local expertise and support.TechnipFMC plc (FTI) , a global leader in subsea technology and services, has secured a substantial contract from Brazil’s integrated oil and gas company Petrobras (PBR) , valued between $75 million and $250 million, following a rigorous competitive tendering p ...

Energy and Financials still anchor the value landscape. Names like Petrobras (PBR), Equinor (EQNR), Shell (SHEL), TotalEnergies (TTE) and Ecopetrol (EC) screen with chunky cash generation, while Synchrony (SYF), BNY Mellon (BK) and Prudential (PUK) keep Financials well-represented at the very front of the list.From Petrobras (PBR), at an Acquirer’s Multiple (AM) of 4.1 with a ~35.4% FCF yield, to Equinor (EQNR) at 2.6 AM with ~11.8% FCF yield, the market continues to discount durable upstream/downstream cas ...