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The decision was made by the Superintendence of the Administrative Council for Economic Defense (Cade). In Block C-M-657, Equinor holds a 30% stake, as does Petrobras. ExxonMobil owns a 40% interest. In Block C-M-709, Equinor holds a 20% stake, while Petrobras and ExxonMobil each hold 40%. In the documentation delivered to Cade, it is not... Continue Reading →
FPSO operator BW Offshore has received a short-term contract extension for a floating, production storage and offloading (FPSO) vessel operating for the Houston-based Vaalco offshore Gabon. The FPSO will be replaced with an FSO unit as part of the Etame Marin field reconfiguration project. BW Offshore revealed on Sunday that it has entered into a... Continue Reading →
Petro Rio S.A. (“PRIO”) (B3: PRIO3) informs that it has received a notice from Petroleo Brasileiro S.A. (“Petrobras”) informing of the termination of the Albacora Field (“Field” or “Albacora”) divestment process, as the parties have not reached an agreement regarding the valuation of the asset.Despite Albacora’s potential, PRIO believes that a transaction with values above... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/16/2022, informs the extension of the deadlines, contained in items AA and AC of the teaser, for the expression of interest in participating in the opportunity to sell 40% of its interest in the BM-POT-17 exploratory concessions, where the Discovery Assessment Plan for... Continue Reading →
Marine engineering and maintenance specialist Royston has completed service and repair works on essential diesel power units onboard TechnipFMC’s Deep Blue vessel. Royston’s team of engineers completed a 12,000-hour overhaul on a MAN 32/40 main generator onboard the 200-meter long TechnipFMC’s Deep Blue vessel, while it was in transit from Las Palmas to Rio de... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on11/05/2021, informs that its Executive Board approved today the end of the competitive process for the sale of the Albacora concession, which will be maintained in its entirety in Petrobras' portfolio. The company was negotiating with PetroRio S.A. for the sale of the field.... Continue Reading →
(TN) The basins of the North and Northeast of Brazil may be the new great frontiers of the country's oil. WesternGeco has announced a new “Reimaging” project of 60,000 kilometers of high resolution 2D data in the Brazilian Equatorial Margin, covering the Foz do Amazonas, Pará-Maranhão, Barreirinhas and Ceará basins. The project will apply advanced... Continue Reading →
(WO) Guyana has some of the world's biggest offshore discoveries made in years, with 10 billion barrels of recoverable oil and gas starting to come online since 2019. These offshore reserves are being extracted using floating production, storage and offloading (FPSO) vessels, which are connected to well-heads on the seabed. Sulzer has delivered 11 high... Continue Reading →
(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
Offshore drilling contractor Maersk Drilling has secured a contract extension with Shell, a UK-headquartered energy giant, for a 7th generation drillship, enabling it to carry out drilling services offshore Mexico once it completes its current assignment with this oil major. The rig owner revealed on Thursday that Shell has exercised an option to extend the... Continue Reading →
Brazil Energy Insight 