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Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general of the start of production of the 7-FR-61HP-RJS (“N5P2”) well, in the Frade Field (“Field” or “Frade”), with stabilized initial production of approximately 11,000 barrels of oil per day, above original projections. Thus, the Field has reached 50,000 barrels... Continue Reading →
(OEM) Chinese shipbuilder COSCO Shipping Offshore Engineering has held a groundbreaking ceremony in Qidong for the construction of a floating, production, storage and offloading (FPSO) vessel, which is destined to work for Petrobras in the Santos Basin pre-salt area offshore Brazil. The Chinese company says that it held the groundbreaking ceremony for the P-82 FPSO, which it describes as “the... Continue Reading →
Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for the third time to... Continue Reading →
Karoon Energy announced that it has temporarily stopped production at Baúna and Patola, in the Santos Basin, due to a loss of containment incident associated with the high pressure flare at FPSO Cidade de Itajaí. Altera&Ocyan, operator of the FPSO, mobilized a team of specialists to identify the source of the leak and carry out... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the contracting process for the chartering of two platform vessels for the Sergipe Deepwater Project (SEAP), in the Sergipe-Alagoas Basin, about 100 km off the coast. The FPSO (floating production, storage, and oil transfer system) type units will be strategic to expand the availability of... Continue Reading →
SBM Offshore is pleased to announce it has signed the project financing of FPSO Almirante Tamandaré for a total of US$1.63 billion. The project financing is provided by a consortium of 13 international banks with insurance cover from 4 international Export Credit Agencies (ECA). The financing is composed of five separate facilities with a ca.... Continue Reading →
Brazilian oil company Enauta Participações has concluded the production ramp-up of the new well in its Atlanta field offshore Brazil., Enauta had said earlier this week that it had connected the new well 7-ATL-5H-RJS (“5H”) to the FPSO Petrojarl I. The production was at the time still in the production ramp-up phase, at around... Continue Reading →
(PN) Karoon made another advance in its Patola field, located in block BM-S-40, in the Santos Basin. The Australian operator stated that it has started production from the field's second well (PAT-1), at an initial rate of more than 12,000 barrels of oil per day. The total production of the BM-S-40 block is now over... Continue Reading →
(OM) Petrobras has been a key driver of a tightening ultra-deepwater rig market, accounting for more than a quarter of all term floater contracts over the past two years, according to Evercore ISI’s latest Offshore Oracle report. From a rig count of 19 currently (up from 17 a year ago), Petrobras’ rig count is expected... Continue Reading →
U.S. offshore engineering and construction services firm McDermott has secured a front-end engineering design (FEED) contract with Shell for a gas development project offshore Trinidad and Tobago. Under the contract, McDermott will provide comprehensive FEED services for a wellhead platform, export pipeline system, shore approach, midstream pipeline and onshore control room for the Manatee gas... Continue Reading →
Brazil Energy Insight 