WorldOil PJ Valves signs two Brazilian FPSO supply deals The specialist manufacturer and supplier of valves for the global energy industry has been awarded two significant FPSO valve contracts for projects in Brazil. The company will manufacture and supply valves packages to both projects in the Santos and Campos basins. Oceaneering wins Petrobras BOP tethering services contract Oceaneering International has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year. API signs MOU with Brazilian technological, certification and standardization group API signed a Memorandum of Understanding (MOU) with the Brazilian technological, certification and standardization group, ABENDI, to collaborate on industry standardization with the goal of enhancing safety, environmental protection and sustainability. Prumo, bp and Siemens enter into partnership with SPIC on Brazil LNG projects Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects, located in Port of Açu, Rio de Janeiro. SPIC has also entered into an agreement to participate in the future expansion projects GNA III and GNA IV, which are expected to be fueled by a combination of LNG and domestic gas from Brazil’s vast pre-salt reserves. Golar Power enters alliance with Galileo to promote LNG in Brazil With this initiative, Golar Power intends to increase the share of local LNG in its supply and accelerate energy transition towards a cleaner energy chain with a lower carbon footprint in Brazil: switching from diesel fuel, liquefied petroleum gas or heavy fuel oil to natural gas. Underperforming offshore wells rack up over $100 billion in abandonment liabilities worldwide Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap. Ample storage and a recovering China insulate Petrobras from the oil glut Petrobras, Brazil’s state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime. Weatherford tallies three deepwater firsts offshore Brazil Weatherford International saved an operator 27.5 hours of deepwater rig time with an Integrated Completion Solution it developed to install downhole equipment in the Santos Basin, offshore Brazil. Sandvik lands first steel tube umbilical order offshore Brazil The milestone contract is significant for the offshore Brazilian oil and gas industry, which typically uses thermoplastic hose umbilicals. Regional Report: Brazil Short-term gains; long-term questions