03/25/2019 One year after the application of the new rules of the State Companies Law (13,303 / 16), Petrobras has already contracted almost R $ 1 billion and accounts for more than 1,500 public bids. The new system introduced a different bidding process and brought new suppliers to the company, making processes more competitive... Continue Reading →
PetroRio closes Frade deal with Chevron
Brazilian oil and gas company PetroRio has closed the acquisition of Chevron’s subsidiary which holds a 51.74% interest in the concession and operation of the Frade field offshore Brazil, along with a proportional stake in the operating assets of the field. As reported at the end of January 2019, PetroRio entered into a share purchase... Continue Reading →
Petrobras forecasts budget of R $ 54.7 billion for 2019
Petrobras forecasts a budget of R $ 54.711 billion for this year. The budget proposal will be presented at the shareholders' meeting on April 25. The priority is in the exploration and production sector, which should require R $ 43.788 billion. Another R $ 9.864 billion will be allocated to the refining, gas and energy,... Continue Reading →
Block next to the deep water discovery of Sugar Loaf will cost more than R$ 1.3 billion in the 16th round
The exploratory block C-M-541, in deep waters of the Campos Basin, will have the highest minimum bonus of the 16th round of bids of ANP, which had its pre-edict and the agreement draft released. The area, which is adjacent to the BM-C-33 block, operated by Equinor and where Pão de Açúcar's natural gas discovery is,... Continue Reading →
Sapura Energy’s 4Q result boosted by OMV deal
Malaysian company Sapura Energy has turned to profit in the fourth quarter ended January 31 (fiscal year 2019), with the result boosted by a recent sale of a stake in E&P business to Austrian OMV. Sapura Energy, a company which has three lines of business – Exploration and Production, Drilling, and Engineering & Construction –... Continue Reading →
ANP approves pre-edict of the 16th Round of Bids
22 March, 2019 The ANP board approved last Friday (22/3), the pre-edict of the 16th Round of Bids Exploratory Blocks, scheduled to be held on October 10. The round will offer 36 blocks in five sedimentary basins (Campos, Camamu-Almada, Jacuípe, Pernambuco-Paraíba and Santos), with a total area of 29.3 thousand square kilometers. One of the... Continue Reading →
SBM Offshore wins Mero 2 FPSO tender and returns to the Brazilian market.
SBM Offshore is back in the Brazilian sector of FPSOs and walking on top. The Dutch company won the tender for the construction of the Mero 2 FPSO, which will operate in the Libra block. The unit will have capacity to process up to 180,000 barrels of crude oil and compress 12 million cubic meters... Continue Reading →
Murphy’s Malaysia sale to PTTEP, SE Asia’s biggest oil & gas deal in five years, Woodmac says
U.S. oil company Murphy Oil’s $2.1 billion sale of Malaysian business to Thai PTTEP announced on Thursday is the biggest oil and gas deal in South East Asia in five years, in what is expected to become a big year for mergers and acquisition in the region. This is according to Wood Mackenzie, an energy... Continue Reading →
Petrobras hedges oil prices
Rio de Janeiro, March 22, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that implemented a hedge strategy to protect part of its oil production expected for the year of 2019. Put options have been acquired with exercise price referenced to the average of Brent oil prices, from April to the end of 2019 at... Continue Reading →
CNOOC Limited meets annual oil and gas production goals, hits historic high in net proved reserves
Oil and gas company CNOOC Limited has met its annual oil and gas production goals in 2018 and reached a “historic high” in its net proved reserves. In its 2018 annual results for the full year 2018, CNOOC said on Thursday it had expanded its oil and gas reserves and production at a steady pace... Continue Reading →
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