The auction of oil surplus from the Transfer of Rights assignment, which is scheduled by the Ministry of Mines and Energy (MME) to take place on October 28, led the Petrobras Exploration and Production director, Carlos Alberto Pereira de Oliveira, to meet with five of the main international oil companies operating in Brazil in February.... Continue Reading →
Ubarana to gain electro-optical cable
08/03/19 On 13 March, Petrobras receives offers to launch an electro-optical cable (EOC) between the Guamaré Pole and the Ubarana 3 platform (PUB-3), in the Ubarana field, in the Potiguar Basin. The bidding is underway in the company's procurement portal and comprises the project to expand the water injection into the asset. The activities include... Continue Reading →
Ocean Rig signs Mero contracts
3/8/19 Petrobras and Ocean Rig will sign this week the charter and service contracts of the Deepwater Mikonos and Deepwater Corcovado drill ships, which will operate exclusively in the Mero field in the Santos Basin. The contract was approved by Shell, Total, CNPC, CNOOC and PPSA, members of the Libra consortium, last Friday (28/2). The... Continue Reading →
Petrobras to contract well completion services
3/8/19/19 Petrobras is promoting two bids to contract goods and services for completing wells. One of them provides for lower completion installation using a vertical, directional or sub-horizontal well. The scope includes technical consulting, preparation and supply of tools, assembly, testing, operation, inspection and maintenance of equipment. In addition, the contractor will be responsible for... Continue Reading →
Norway Deals a Blow to an Oil Industry That’s Quickly Losing Friends
The decision of the world’s largest sovereign wealth fund to reduce holdings in oil stocks wasn’t as far-reaching as the industry feared, but dealt a symbolic blow to fossil fuels that will reverberate for energy companies and their investors. While the divestment by Norway’s $1 trillion fund doesn’t include Big Oil, instead rooting out $7.5 billion of... Continue Reading →
Subsea 7 eyes new contracts in the Santos pre-salt
03/03/19 Subsea 7 is eyeing new subsea contracts in Brazil for 2019. "We are presenting proposals or in the process of bidding for the Carcará, Búzios, Mero-2 and Lapa projects," said company CEO Jean Cahuzac during a conference with analysts. All the projects are located in the pre-salt of the Santos Basin. Mero and Búzios... Continue Reading →
Negotiations between Petrobras and Modec advance
03/03/19 The first round of direct negotiation between Petrobras and Modec on the FPSO for Búzios V ended well. With no impasse and willing to seek a reasonable daily rate for both, the companies decided to continue with the talks, and the expectation is that until the end of March reach a consensus. After the... Continue Reading →
Selling Petrobras mature fields can boost sector
Petrobras' plan to accelerate the sale of mature land and shallow water fields may trigger a series of investments in these areas and in the supply chain of the oil and natural gas industry, according to experts and executives heard by Valor. The expectation is that the development of these fields, in the hands of... Continue Reading →
Worldwide offshore rig count in February up both sequentially and year-over-year
The worldwide offshore rig count for February 2019 increased by 6 units sequentially and by 59 units year-over-year, according to Thursday’s report by Baker Hughes, a GE company (BHGE). BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The international rig count for February 2019 was 1,027,... Continue Reading →
Premier Oil turns to full-year profit. Achieves record production
UK-based oil company Premier Oil reported a net profit in 2018 of $133.4 million, on the back of record production. Premier Oil, which in 2017 posted a loss of $253 million, said on Thursday it achieved record production of 80.5 kboepd in 2018, despite material asset sales. Premier’s production was boosted by new output from the... Continue Reading →
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