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November 21, 2019 Impact of Campos Basin redevelopment on production, royalties and employment was discussed during the public hearing. With a little over 40 years of operation, the Campos Basin faces a drop in production. It has already been responsible for over 80% of national oil activity. Today, the Campos Basin is responsible for 48%... Continue Reading →
Offshore drilling company Seadrill has painted a cautiously optimistic picture for the offshore drilling market outlook, with the company seeing an opportunity for high-end floaters as well as for jack-up reactivations in 2020. At the end of the third quarter, Seadrill had 35 offshore rigs in Total, of which, 19 floaters and 16 jack-ups. Of... Continue Reading →
Petrobras, following up on the press release of November 7, 2019, reports that it has signed today with Copagaz and Nacional Gás Butano a contract for sale of all its stake in Liquigás Distribuidora S.A. The sale price is R$ 3.7 billion, to be adjusted according to contract rules and paid upon transaction closing. As... Continue Reading →
Brazil's state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday. The major shift to deep offshore areas will correspond with onshore exploration and production falling to 10% of Petrobras' activities... Continue Reading →
Dutch marine contractor Boskalis has recently won a batch of marine transportation contracts including a record-breaking FPSO transport deal for its giant BOKA Vanguard semi-submersible vessel. “Following last year’s transportation of a sizable box-shaped FPSO, Boskalis secured a contract to transport a similar FPSO from China to Brazil. With a weight exceeding 91,000 tons this... Continue Reading →
OOS Energy, a subsidiary of Dutch firm OOS International, has taken over management of the semi-submersible drilling rig ODN Delba III from Ocyan, formerly known as Odebrecht Oil & Gas. OOS International said last week that the onshore and offshore management teams of OOS Energy Rig Management took over management of the rig on November... Continue Reading →
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts. Brazil’s biggest-ever oil auctions in November were generally deemed to be disappointing, receiving muted interest from international exploration and production companies. However, national oil company Petrobras could not have asked... Continue Reading →
Brazil’s real may be sliding toward an all-time low against the U.S. dollar, but the central bank appears in no rush to intervene to slow or even reverse the fall. Despite the real’s historical weakness, the market is functioning smoothly: depreciation, so far, has been fairly orderly, volatility is low, liquidity has not dried up,... Continue Reading →
Nov 19, 2019 ANP extended deadline for Petrobras to conclude operations involving land and shallow water fields The ANP has extended the deadlines for Petrobras to complete its divestments in land and shallow water. The operations involve 124 fields at 20 clusters - some of them already sold, but not yet with all the regulatory... Continue Reading →
Nov 19, 2019 The ANP granted Rosneft another four years (until 2023) to complete the second stage of the minimum exploratory programs (MEPs) of blocks SOL-T-151, SOL-T-174, SOL-T-197, SOL-T-214, SOL-T-215, SOL-T-216 and SOL-T-217 in the Solimões Basin. Asset Discovery Assessment Plans (DAPs) were also extended by the agency, with deadlines now ranging from 2020 to... Continue Reading →
Brazil Energy Insight 