February 9, 2018 Petrobras applied to Ibama for the acquisition of 3D seismic data, with nodes, in the Búzios field, an area of the onerous assignment of the Santos Basin pre-salt. The license application was filed by the oil company on January 23 at the environmental agency. The campaign will be made by Seabed... Continue Reading →
Statoil plans to start production in Carcará between 2023 and 2024
Norway's Statoil plans to start oil production at the discovery of Carcará in Brazil in 2023 or 2024. The discovery, where Statoil plans to drill from one to three wells later this year, could contain more than 2 billion barrels of oil equivalent, said Statoil's head of exploration for the United Kingdom and Norway,... Continue Reading →
Bassoe: Owners of old jack-up rigs realize their gamble isn’t paying off
They’re cheap to stack and costly to scrap, but old jack-ups are finally moving off to scrapyards. The most junk-laden segment of the offshore rig market looks as if it’s starting to clean itself up. In 2017, 14 jack-ups were sold for scrap (excluding mat and slot rigs). This number is twice as high as it was... Continue Reading →
Brazil: Petrobras FPSO catches fire
A fire broke out in the engine room of the P-32 floating production storage and offloading (FPSO) vessel operated by Brazilian oil giant Petrobras on Thursday, February 8. Read more
Exploration success helps ExxonMobil add 2.7 billion barrels to reserves
U.S. oil and gas major ExxonMobil has added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017, the company said on Thursday. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s... Continue Reading →
SBM Offshore 2017 Full Year Earnings
Financial Highlights Underlying[1] Directional[2] 2017 EBITDA of US$806 million, an increase of c. 4% compared to last year Underlying Directional 2017 Earnings per share of US$0.39, a decrease of US$0.18 year-on-year Directional 2017 revenue of US$1,676 million, a decrease of 17% year-on-year Directional year-end pro-forma backlog of US$16.8 billion, stable compared with US$17.1 billion at year-end 2016... Continue Reading →
Brazil Cuts Key Rate to Record Low, Signaling End of Cycle
Brazil’s central bank cut its key interest rate by 25 basis points to a record low as it signaled the end of the most aggressive easing cycle in the last decade amid risks that reforms could falter and push up prices. All but two of the 40 analysts surveyed by Bloomberg expected the central bank... Continue Reading →
CADE approval of the sale of PetroquímicaSuape and Citepe
Rio de Janeiro, February 7, 2018 - Petróleo Brasileiro SA - Petrobras, pursuant to the Press Release disclosed on 12/18/2017, informs that the Court of the Administrative Council for Economic Defense (CADE) has approved the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe), Petrobras wholly-owned subsidiaries, to Alpek, subject... Continue Reading →
Total 2017 Results
Please see attached presentation. Total 2017 results
Five FPSOs in bidding process in Brazil
Feb. 7, 2018 Petrobras will launch next week a tender for the contracting of the FPSO that will be part of the Integrated Project of the Parque das Baleias in the Campos Basin. The information is from the director of Corporate Affairs of the company, Eberaldo de Almeida Neto. Proposals for the unit should be... Continue Reading →
Brazil Energy Insight 