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October 31, 2019 Petróleo Brasileiro S.A. – Petrobras in addition to the press release issued on October 23, 2019, reports that the signing of the Amendment to the Transfer of Rights Agreement was postponed for tomorrow, November 1, 2019. The new signing date was approved by the company's Board of Directors, as it complies with... Continue Reading →
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country’s crude. The proliferation of niche players, ranging from private equity firms to domestic and international... Continue Reading →
October 30, 2019 The new oil auctions to be held by the National Petroleum, Natural Gas and Biofuels Agency (ANP) should generate demand for the installation of 50 to 60 new offshore platforms. The information was highlighted by the director general of the agency, Décio Oddone, during breakfast at OTC Brasil 2019. “All of this... Continue Reading →
Norwegian seismic services provider TGS will undertake a new 3D multi-client project offshore Argentina. TGS said on Wednesday that the Malvinas 3D survey would cover around 7,300 square kilometers of highly prospective Malvinas Basin, which saw interest during Argentina Round 1 earlier this year. The survey will employ one Shearwater vessel, with operations set to begin in... Continue Reading →
Repsol Sinopec Brasil considers the terms of the country’s huge “transfer-of-rights” oil auction next week unattractive, which is a main reason it is not among the 14 firms registered for a chance to bid, the firm’s top Brazil executive said on Tuesday. Asked on the sidelines of Rio de Janeiro’s Offshore Technology Conference if the... Continue Reading →
Oct. 28, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced substantial completion of PEMEX Exploracion y Produccion's Abkatun-A2 Platform. The production platform is located in Mexico's Bay of Campeche in the Gulf of Mexico. This milestone means the platform has now been turned over to the owner to begin commercial operations. "With substantial completion of the Abkatun-A2 Platform project... Continue Reading →
When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in a tight electoral race... Continue Reading →
October 28, 2019 The forecast is to invest US $ 21 billion by 2023 to maintain the Campos Basin production curve. At the same time as it sets record highs in the pre-salt, Petrobras is facing the challenge of containing the sharp natural decline of its production in the Campos Basin post-salt. The company, however,... Continue Reading →
Oct 25, 2019 Baixada Santista has the potential to become a new center of goods and services for the oil and gas sector, along the lines of Macaé (RJ), says São Paulo State Finance and Planning Secretary Henrique Meirelles. “There is no doubt that the Santos Basin's share of pre-salt production is growing. Along with... Continue Reading →
Oct 25, 2019 The first Mero 2 oil in the Santos Basin pre-salt was delayed by one year. Petrobras' business plan was scheduled for FPSO Sepetiba to start operating in 2022, but the company's financial report released on Thursday (10/24) projects its start of production in 2023. The construction and operation of the unit, which... Continue Reading →
Brazil Energy Insight 