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The Brazilian offshore rig market will probably never see a return to its halcyon days of 2012. But these days, the market needs any increase in demand for deepwater rigs it can get, and Brazil is one of the best bets through the rest of this decade. Two factors support a positive outlook for offshore drilling... Continue Reading →
Rio de Janeiro, September 27, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors, in a meeting held today, has reinstated the Chief Governance and Compliance Executive Officer of Petrobras, João Adalberto Elek Júnior, who was temporarily removed from the post, according to the Material Fact published on August 23, 2017.... Continue Reading →
Brazilian oil and gas regulators on Wednesday held the 14th bidding round for oil and gas exploration blocks, and it broke some cash records. Namely, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said the round, in which 20 companies took part, had the largest total signature bonus in history – over R$... Continue Reading →
Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning a total of eight offshore blocks in the country’s 14th oil bidding round, helping the cash-strapped nation to fetch a record 3.8 billion reais ($1.19 billion). Exxon Mobil took six blocks in consortia with state-controlled oil giant Petroleo Brasileiro in the promising offshore... Continue Reading →
Karoon Gas Australia Ltd won the block with a signing bonus worth 20 million reais ($6.3 million), but the remaining 75 blocks in the basin received no bids, oil industry watchdog ANP said. Officials expected to sell up to 40 percent of the blocks, raising 500 million reais ($157 million). Read more
RIO DE JANEIRO (Reuters) - Petróelo Brasileiro SA has drawn up a strategy to participate in Brazil’s three upcoming oil auctions this year, as a declining debt burden has increased the state-controlled oil producer’s firepower, Chief Executive Officer Pedro Parente said on Wednesday. Petrobras will participate in auctions in which the government will offer areas... Continue Reading →
Eco Atlantic Oil & Gas has entered into an option agreement on its Orinduik block, offshore Guyana, with Total E&P Activités Pétrolières, a wholly owned subsidiary of French oil major Total. Eco Atlantic said on Tuesday that the option agreement provided Total with an option to acquire a 25 percent working interest in the Orinduik... Continue Reading →
Mexican oil company Pemex has signed exploration and production contracts in shallow waters with Deutsche Erdoel AG (DEA) and Ecopetrol. Pemex said on Monday that the areas corresponded to Blocks 2 and 8 from Round 2.1, which were included in the bidding process by the National Hydrocarbons Commission (CNH). The signing ceremony was presided over... Continue Reading →
Wilson Sons Ultratug Offshore could have up to eight platform supply contracts with Petrobras temporarily suspended. The company is is a joint venture between the Brazilian shipbuilding company, Wilson Sons and Chilean services provider Ultramar. According to Wilson Sons, the JV is negotiating new contract terms for up to eight Platform Supply Vessels (PSVs) currently... Continue Reading →
Brookfield Business Partners has completed the acquisition of a 60 percent stake in Teekay Offshore Partners, a provider of marine services and solutions to the offshore oil industry. To remind, Brookfield entered into the initial deal with Teekay in late July. At the time, it was said that the total investment as part of the Teekay... Continue Reading →
Brazil Energy Insight 