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December 23, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 12/16/2019, referring to the sale of its interest in the concession BM-P-2, located in the Pelotas Basin, reports that it has extended until 01/15/2020 the notification deadline for companies to express their interest on the opportunity. There is no prejudice... Continue Reading →
Just a few days after making history with producing Guyana’s first ever oil at its Liza offshore field, ExxonMobil has announced another oil discovery near the field. The U.S. major on Monday said it made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the... Continue Reading →
December 23, 2019, Brazil Oil and natural gas production in November totaled 3.950 million barrels of oil equivalent per day (MMboe / d), of which approximately 3.090 million barrels per day (MMbbl / d) of oil and 137 million cubic meters per day ( MMm³ / d) of natural gas. The month's production surpassed the... Continue Reading →
As Guyana has just become an oil-producing country with ExxonMobil reaching first oil at the Liza field over the last weekend, oil major Total is hoping to replicate the achievement in nearby Suriname. The French company has signed a deal with Apache Corporation to acquire a 50% working interest and operatorship in “the highly prospective Block... Continue Reading →
Exxon Mobil and its partners lifted the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues. Exxon has a 45% share in the Guyana project, while Hess Corp. has 30% and China’s CNOOC Ltd. 25%. Output from the first phase of the offshore... Continue Reading →
Dec 20, 2019 The Executive Board and Board of Directors of Petrobras have approved the final terms of an agreement with Sete Brasil (the “Agreement”) subject to the fulfillment of precedent conditions. The Agreement preserves the terms previously announced: (i) maintenance of charter and operation contracts regarding four drilling rigs, with 10-year terms and daily... Continue Reading →
ExxonMobil has said on several occasions that by 2025, Guyana is expected to produce up to 750,000 barrels of oil per day. But it would not achieve this by solely relying on the three Floating Production Storage and Offloading (FPSO) vessels for the Liza Phase One Project, Liza Phase Two and the Payara Project (which... Continue Reading →
When asked where the hotspots for 2020 exploration might be, Brown said, “Brazil is the obvious answer”, noting that an increasingly diverse operator mix – including Equinor and Shell among those joining Petrobras in exploring the deepwater pre-salt – will be key to success in the region. “Brazil is on the verge of a revival... Continue Reading →
December 18, 2019 PGS Offshore received an environmental license from Ibama authorizing a campaign to acquire 3D seismic data in the area where the exploration blocks of the ExxonMobil, Enauta and Murphy Oil consortium are located in deep waters of the Sergipe Basin. The data acquisition campaign is expected to take 90 days and the... Continue Reading →
12/19/2019 Petrobras launched the website New Paths (www.petrobras.com.br/novoscaminhos ), a channel created to explain the strategies and business decisions of the company. In addition to the site, an advertising campaign featuring two television films and Internet plays will invite people to learn more about the portfolio management at Petrobras. The main message is to explain... Continue Reading →
Brazil Energy Insight 