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Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per... Continue Reading →
Feb 19, 2020 Total started last Tuesday (18) the environmental licensing in Ibama of five wells, two exploratory and three for evaluation, in the area of exploratory block C-M-541, in the Campos Basin pre-salt. The company signed the concession contract for the area, where it has a partnership with Petronas and QPI, last Friday with... Continue Reading →
February 19, 2019 According to an executive of the JV with Petrobras, goal is to increase the recovery factor of the largest field in the country Petrobras should drill at least ten new wells in the Lula field, in the Santos Basin, said Galp's Upstream Operations director, Thore E. Kristiansen, during a conference with analysts... Continue Reading →
February 18, 2019 Large production growth is believed to result in lower prices due to competition The current government has invested in the potential of pre-salt gas to reduce the cost of energy in Brazil. For Minister Paulo Guedes, the resumption of sustainable growth involves the reindustrialization of the country, based on the increased competitiveness... Continue Reading →
FEB 18, 2020 Drilling and seabed mapping activities aim to evaluate discoveries in ultra-deep waters The ANP approved the extension of the execution period of the plans for evaluating the discoveries (PADs) of Quindim and Brigadeiro, in block ES-M-525, operated by Petrobras, in the Espírito Santo Basin. The extension was necessary to carry out the... Continue Reading →
February 14, 2020 The Working Group set up by determination of the National Council for Energy Policy (CNPE) concluded on the feasibility of offering exploratory areas for oil and gas beyond 200 nautical miles in the 17th bidding round of the National Petroleum Agency (ANP), foreseen for the second semester. The information was provided by... Continue Reading →
February 14, 2020 Last Friday (14), Shell began the licensing process for nine new wells in the exploration blocks CM-659 and CM-713, in the Campos Basin pre-salt, and aquired by the company in the 16th bidding round of the National Petroleum Agency (ANP). The licensing process at Ibama started shortly after the signing of the... Continue Reading →
Significant cost reductions have improved E&P cashflows and should drive increased offshore tendering activity in 2020 with pricing expected to remain competitive, according to market research provider Westwood Global Energy Group. Westwood said on Thursday that contractors would need to remain focussed on profitability and avoid being locked into low-margin purgatory. The company identified that... Continue Reading →
Brazil’s currency will fall to a new low of 4.50 per dollar this year, Capital Economics forecast on Friday, predicting slower growth, lower interest rates and worse balance of payments dynamics than the current market consensus. One of the most gloomy outlooks to date for the real, it assumes renewed selling pressure will knock away... Continue Reading →
February 14, 2020 In partnership with BP and Equinor, company prepares first production sharing well in the basin In March, Petrobras plans to start drilling the first exploratory well in Dois Irmãos, in the Campos Basin pre-salt. The location of the well, in the area purchased in the 4th Round of Sharing, has already been... Continue Reading →
Brazil Energy Insight 