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Nov. 10 (oilprice.com) Hamburg-based International Tribunal for the Law of the Sea on Tuesday begins hearings of Argentina’s complaint about the UK’s oil drilling project north of the Falkland Islands, which Argentinian President Javier Milei claims is unlawful amid a recently revived row with Britain over who controls the Falklands. The Sea Lion oil field... Continue Reading →
Nov. 10 (Reuters) ExxonMobil said on Monday it signed a memorandum of understanding with Venezuelan state oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated. The agreement is non-binding and does not commit Exxon to any specific project. "This memorandum is... Continue Reading →
Nov. 10 (OE) Eco (Atlantic) Oil & Gas has completed the farm-down of 60% participating interests in three Namibia’s offshore exploration licenses to BP, transferring operatorship of the blocks and clearing the way for a new seismic exploration program. The transaction covers Block 2012A under PEL97 (Cooper), Blocks 2111B and 2211A under PEL99 (Guy), and... Continue Reading →
Nov. 8 (PN) On the eve of completing 50 years of production, the Campos Basin finds itself at a decisive juncture for its future within the Brazilian oil and gas industry. Responsible for more than half of all the oil ever produced in the country, the region is now grappling with the effects of field... Continue Reading →
Nov 9 (PN) Brazil’s oil production is projected to reach a peak of approximately 5 million barrels per day by 2028, driven primarily by the start of operations for new units in the pre-salt region. This forecast is included in the Oil and Natural Gas Production section of the Ten-Year Energy Expansion Plan 2036 (PDE... Continue Reading →
Nov. 7 (offshore-energy.biz) Brazil’s state-owned energy giant Petrobras has secured approval in principle (AiP) from classification society Lloyd’s Register (LR) for its floating production, storage, and offloading (FPSO) concept, advancing a redevelopment plan that adapts the proven P-68 FPSO design to cut risk, cost, and delivery time in Brazil’s Santos Basin. Lloyd’s Register, which awarded... Continue Reading →
Nov 4 (Reuters) - Colombia expects to have a licensing round for new oil exploration areas ready in the first quarter of 2027, the head of the National Hydrocarbons Agency (ANH) said on Wednesday. The country halted new hydrocarbon exploration contracts from 2022 to 2026 under former President Gustavo Petro, whose government sought to steer... Continue Reading →
Nov 5 (Reuters) - Danish offshore wind farm developer Orsted on Thursday reported a third-quarter core profit above forecasts, sending its shares up more than 4%. Orsted has expanded rapidly over the past decade, but more recently has faced higher costs from supply chain disruption and inflation, as well as regulatory challenges in the United... Continue Reading →
Nov. 5 (PN) New developments from Petrobras in the Campos Basin: the company has begun drilling the second well in the Norte de Brava block, according to data provided by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The well, technically identified as 9-BRSA-1406D-RJS, is being drilled in a water depth of 603... Continue Reading →
Nov. 5 (splash234.com) razil’s competition watchdog CADE has given conditional approval to the proposed merger between Italian offshore engineering giant Saipem and Norway’s Subsea 7, requiring the companies to sell a specialised pipelay vessel to address competition concerns. The Brazilian regulator approved the combination, which will create Saipem7, after the companies agreed to divest the... Continue Reading →
