McDermott International, Inc. has announced it recently received unsolicited approaches to acquire all or part of Lummus Technology, McDermott's industry-leading technology business, with valuation exceeding $2.5 billion. Based on the receipt of these approaches, McDermott is exploring strategic alternatives to unlock the value of Lummus Technology while maintaining the strategic rationale of engineering, procurement and construction (EPC) pull-through.
The Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP), Brazil’s national agency for petroleum, plans to increase the diversity of upstream oil and gas operators present in Brazil as a result of three licensing rounds organized in fall 2019, continuing a strategy that is expected to boost oil production by 1 million barrels per day (mmbd) by 2025 through recent licensing and the current Pre-Salt area development, says GlobalData, a leading data and analytics company.
The recent oil price jump could create further momentum for service sector margins, according to Rystad Energy.
A second oil discovery in the Orinduik Block was announced earlier this week. The Joe-1 exploration well was drilled to a final depth of 2175 meters and encountered a high-quality oil-bearing sandstone reservoir of Upper Tertiary age.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.