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Petróleo Brasileiro S.A. – Petrobras informs that it received today, at sight, the amount of R$ 14.55 billion from TotalEnergies EP Brasil Ltda. (TotalEnergies), Petronas Petróleo Brasil Ltda. (Petronas) and QP Brasil Ltda. (QP), related to the 70% stake of these companies in the Sépia compensation, block acquired by the consortium composed by Petrobras (30%),... Continue Reading →
Craig Fleming (WO) With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022. ... Continue Reading →
In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (Sépia field) and P-68 (Berbigão and Sururu fields), located in the pre-salt of Santos Basin, to the lower... Continue Reading →
Petróleo Brasileiro SA – Petrobras, following up on the release disclosed on 11/05/2021, informs that its Board of Directors, in a meeting held today, approved the sale of all its interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin, to the company Petro Rio Jaguar Petróleo LTDA. (PetroRio), a... Continue Reading →
Italian oilfield services giant Saipem has awarded GE Power Conversion a contract to develop the electrical module for Petrobras’ P-79 FPSO. In June 2021 Saipem, in a joint venture with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), won a contract with to build the FPSO P-79 for Petrobras' Búzios, one of... Continue Reading →
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. “We must have a major deepwater port to handle a Panamax” ship, President Irfaan Ali said today during an investment seminar... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/19/2022, informs that it received today, at sight, the updated payment of R$ 4.7 billion from Total Energies EP Brasil Ltda. - TotalEnergies, referring to the 22.5% share in the Atapu compensation. The Atapu block was acquired by the consortium composed by Petrobras... Continue Reading →
Houston-based Vaalco Energy has brought on stream its second well in the 2021/2022 four-well drilling campaign offshore Gabon and started drilling the third one. The second well has shown strong initial flow rates. To set its 2021/2022 drilling campaign focused on the Etame field in motion, Vaalco hired in June 2021 a jack-up rig provided by Borr Drilling to... Continue Reading →
Offshore drilling firm Sonadrill, a 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a ten-well contract with options for up to eight additional wells in Angola for the West Gemini drillship. The total contract value for the firm part of the contract is expected to be approximately $161 million, including mobilization... Continue Reading →
(Reuters) - Guyana sold its first share of crude oil from the country's newest offshore production facility to Exxon Mobil (XOM.N) for about $106 million, the government said. One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads, bridges, houses, gas-fired power plants and solar energy projects.... Continue Reading →
Brazil Energy Insight 