Petroleo Brasileiro SA may abandon a plan to sell shares in Braskem SA, and could even double its stake in the petrochemical company it views as a natural hedge for oil prices. Petrobras, as the Rio de Janeiro-based company is known, is reassessing its petrochemicals strategy after having put its 4.3 billion-real ($1.1 billion) stake... Continue Reading →
Petrobras/Favorable decision by CARF concerning the deductibility of production development expenditures for purposes of IRPJ and CSLL assessment
Rio de Janeiro, August 16, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that today the Administrative Board of Tax Appeals (CARF) issued a decision, unanimously, in favor of the company, in an fiscal administrative proceeding in the amount of R$ 8.4 billion, related to the moment of deductibility of expenses incurred by Petrobras in... Continue Reading →
Petrobras, Ensco iron out differences
Offshore driller Ensco has said it has resolved its issues with Petrobras and is now back on track to potentially secure more work with the Brazilian oil giant. “Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement,” Ensco said. Petrobras in... Continue Reading →
Libra contracting
08/15/18 Consortium operated by Petrobras receives in September proposals to provide drilling and completion services The Libra Consortium is expected to receive offers for construction of wells at the Mero 1 field in the Santos Basin pre-salt in September. The scope of the tender is for eight drillings, 15 completion facilities and one assessment. The... Continue Reading →
Petrobras plans to invest R $ 2 billion in Comperj
8/14/18 The works of the Comperj natural gas processing unit in Itaboraí (RJ), should count with 2.5 thousand and 3 thousand workers by the end of the year, said the director of development of Petrobras' production and technology, Hugo Repsold Júnior. According to him, the teams are already being mobilized. The expectation is that about... Continue Reading →
ExxonMobil Data Acquisition Advances
8/14/18 3D seismic mapping in Sergipe with GeoStreamer cables will be completed between October and November PGS has already acquired more than half of the approximately 8,500 km2 of multi-client seismic data acquisition campaign in deep waters of the Sergipe-Alagoas Basin, which will cover the SEAL-M-351, SEAL-M-428, SEAL-M-501, SEAL-M-503, SEAL-M-430 and SEAL-M-573 operated by ExxonMobil.... Continue Reading →
Petrobras requests Operationing License for Búzios IV
8/14/18 The start of production of the onerous assignment system by P-77 is scheduled for 2019 Petrobras requested from IBAMA the operating license for the development of the production and disposal of Búzios IV, which will be through FPSO P-77. So far, the field development project in the Santos Basin has already had four wells... Continue Reading →
After years of inefficiency, majors start delivering upstream projects within budget and on time, Woodmac says
The oil and gas industry may have finally turned around from “always delivering upstream projects behind schedule and over budget.” Poor capital discipline and over-confidence in pursuit of large-scale, and extremely complex upstream projects before the oil price plunge in 2014 would lead to projects being delivered late and over budget. However, this has started... Continue Reading →
EllaLink Set for 2020 Launch
BELLA (Building Europe Link to Latin America) consortium, whose leading investor is the European Commission, has signed a contract agreement with EllaLink, a private consortium, to launch the deployment of an underwater fibre optic cable connecting Europe and Latin America. Read more
Dome and Seadrill close partnership for warm stacking rigs at Açu Port
10/08/2018 Dome, a partnership between Prumo Logística and GranIHC, will warm stack Seadrill's drill ship, West Carina, at Açu Port. The drill ship docked at Terminal 1 of the port since the end of July, will remain for up to 90 days, with the possibility of extending this deadline. In addition to the mooring of... Continue Reading →
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