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Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays. The confidence carried over into 2020 but has evaporated in the face of the Covid-19 crisis and the collapse in oil prices. Short term plans are in a state of flux and exploration strategy is being reset... Continue Reading →
May 17, 2020 Petrobras confirmed the characteristics of reservoirs in ultra-deep waters on the Sergipe coast, more precisely in the FARFAN field, 80 kilometers from the coast. A Long Term Test (TLD), carried out between February and April this year, confirmed the reservoir. "It is important that we receive this data, as it gives us... Continue Reading →
May 17, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on May 11, 2020, informs that it started yesterday the Extended Well Tests (EWT) in the Discovery Assessment Plan (DAP) of Forno, in the Albacora field, located in the Campos Basin pre-salt. The test is being carried out in well... Continue Reading →
Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America's largest economy. On a Friday earnings call with analysts, executives credited the company's strong relationship with independent refineries... Continue Reading →
For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades. In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis,... Continue Reading →
May 13, 2020 Petróleo Brasileiro S.A. – Petrobras, regarding the press releases disclosed on March 18, 2019 and September 11, 2019, which announced the approval of Production Individualization Agreements (AIP) of the Lula, Atapu and Sépia joint reservoirs, in Rio de Janeiro, informs that it executedm Expenses and Volume Equalization Agreements (AEGV) with the respective... Continue Reading →
May 12, 2020 Shell moves forward with campaign in the area of production sharing in the Santos Basin pre-salt Shell started drilling its first well in Saturno, the Santos pre-salt area, which was acquired in the 5th Production Sharing Round in 2018. Well 1-SHEL-33-RJS, called Saturno 1, was drilled in a depth of 2.069 thousand... Continue Reading →
Norwegian offshore EPC contractor Aragon has won a contract to deliver topside modules for Malaysia-based Yinson's Anna Nery FPSO that will produce oil from Petrobras' Marlim field in Brazil. The Bergen-based company, part of Singapore's SembMarine, said that the contract covers the engineering, procurement, and construction of 7 modules for the gas treatment, gas compression,... Continue Reading →
May 11, 2020 Petróleo Brasileiro S.A. – Petrobras confirmed oil of excellent quality in the Southeast area of the Búzios field and greater potential in the pre-salt of the Albacora field. POÇO 9-BUZ-39DA-RJS Located in the Southeast area of the Búzios field, in the Santos Basin pre-salt, 210 km from Rio de Janeiro, the well... Continue Reading →
Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO. Continue reading
Brazil Energy Insight 