Ahead of its pending merger, the U.S. engineering and construction company McDermott and its compatriot CB&I have found ways to save $250 million, including eliminating the perks and reducing board of directors costs. The companies have received all necessary regulatory approvals for the merger which was proposed last December. The merger is on track to... Continue Reading →
BP enters into exploration pact with Petrobras
UK oil major BP has signed a memorandum of understanding to explore areas of cooperation with Brazilian oil giant Petrobras. Through this strategic alliance, Petrobras and BP have committed to exploring potential joint commercial agreements in areas of mutual interest in upstream, downstream, trading and across low carbon initiatives, inside and outside Brazil, BP informed... Continue Reading →
GeoPark Announces First Quarter 2018 Operational Update
Continued Drilling Success and Record Production Growth, New Argentina Project Closing and New Large-Scale Acquisition Partnership Read more
ANP announces five areas for 5th pre-salt auction
April 11, 2018 - Felipe Maciel The ANP board approved the nomination of five areas for the National Energy Policy Council (CNPE) to hold the 5th round of the pre-salt, due to take place in August. The auction will offer blocks SM-645 and SM-534, taken from the 15th round last month, the Saturn area,... Continue Reading →
Spectrum focuses on 3D seismic in Brazil
Spectrum is preparing to intensify its performance in the 3D seismic market in the country. The decision was, among other factors, motivated by the establishment of a calendar of auctions by the ANP, says the country's manager of the company, João Correa. "We close the 2D mosaic on the coast of the country, and... Continue Reading →
Petrobras takes DOF’s diving support vessel on long-term contract
DOF Subsea has been awarded a three-year firm contract with a two-year extension option by Petrobras in Brazil. The contract is for the provision of the 2007-built diving support vessel (DSV) Skandi Achiever and ROV and diving services. Read more
Petrobras Divestments in Shallow-Water Fields: Start of the binding phase for Pargo, Sergipe and Merluza Clusters
Rio de Janeiro, April 06, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 07/28/2017 and press release disclosed on 10/04/2017, informs the start of the binding phase regarding the full sale of its exploration, development and production rights in three sets of shallow-water fields: Pargo, Sergipe and Merluza clusters,... Continue Reading →
Moody’s upgraded Petrobras rating
Rio de Janeiro, April 10, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that Moody's agency has raised the company's corporate debt rating from Ba3 to Ba2, keeping the outlook stable. Moody's highlighted in its report, released yesterday, that the review of Petrobras’ rating reflects the improvement of the perspective of the sovereign rating of... Continue Reading →
McDermott wraps up Atlanta field work scope ahead of first oil
U.S. engineering company McDermott has completed the first phase of the deep-water Atlanta Early Production System (EPS), located offshore Brazil, for Queiroz Galvão Exploração e Produção S.A. (QGEP). The field is located approximately 115 miles (185 kilometers) offshore southeast of Rio de Janeiro. As reported by Offshore Energy Today at the end of March, QGEP expects... Continue Reading →
The overwhelming return of ExxonMobil to Brazil
ExxonMobil has been operating in Brazil since the opening of the sector in 1997, until 2016. During that period, the company acquired only four exploration blocks and returned two of them (one in the Potiguar Basin and another in Santos). From then on, however, the major's participation in ANP auctions has been overwhelming, resulting in... Continue Reading →
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