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December 12, 2019 Petrobras received from Ibama an operating license authorizing the start of the Farfan Reservoir Long Term Test, one of the discoveries made in the region. The plan foresees the installation of FPSO Cidade de São Vicente, connected to a production well. The license is valid for up to 180 days and by... Continue Reading →
December 12, 2019 The development of Buzios production in the Santos cluster will require the hiring of seven new FPSOs. The units will be able to produce at least 180,000 bpd - 30,000 bpd more than the platforms contracted for the project so far. The development plan was unveiled to the press last Wednesday (11/12)... Continue Reading →
December 11, 2019 – Petróleo Brasileiro S.A. – Petrobras following up on the release dated November 1, 2019, informs that, in alignment with its cash management strategy and in accordance with the provisions of the Amendment Term to the Transfer of Rights Agreement, paid to the Federal Government the amount of R$ 34.420 billion (thirty-four... Continue Reading →
SBM Offshore announced on Wednesday that it has firmed up contracts with Brazil’s Petróleo Brasileiro S.A. (Petrobras) for the 22.5-years lease and operation of a floating production, storage and offloading unit (FPSO) to be deployed at the Mero field in the Santos Basin offshore Brazil. FPSO Sepetiba, formerly known as Mero 2, will be built... Continue Reading →
Dec 10, 2019 The P-70 has left the shipyard in Qingdao, China, to travel to Brazil and will arrive at Atapu field in the first quarter of 2020. The start-up of the operation will take place after the mooring and interconnection work of the first producing well. The P-70 platform is part of the replicant... Continue Reading →
Tullow Oil and its joint venture partners in the Orinduik Block located offshore Guyana have elected to enter the next exploration phase of the Orinduik Petroleum Agreement signed on January 14, 2016, and have submitted their official notice to the Department of Energy of the Government of Guyana. The JV Partners are Eco Atlantic (15%... Continue Reading →
Brazil will push to expand oil drilling in its massive “pre-salt” oil and gas area off its coast in spite of growing global concerns about climate change, the country’s energy minister told Reuters on Monday. Brazil’s Mines and Energy Minister Bento Albuquerque spoke on the sidelines of a climate summit underway in Madrid where UN... Continue Reading →
December 6, 2019 Concerned about the natural decline in the Campos Basin post-salt in contrast to the record highs in pre-salt production, Petrobras announced this week through its exploration and production director Carlos Alberto Pereira de Oliveira that it will invest 21 billion dollars for the next 4 years. The investments would aim to try... Continue Reading →
Dec 5, 2019 One of the most anticipated investments in oil and gas in Espírito Santo has been postponed for the next three years. The Parque das Baleias Integrated project had its start-up date postponed by Petrobras to 2023. Initially, the investment was announced for 2021 and had already been postponed to 2022. The new... Continue Reading →
DEC 4, 2019 Buzios field, in the Santos Basin pre-salt, will receive about 28% of the $ 64 billion that Petrobras will invest in exploration and production by 2024, equivalent to about $ 18 billion. The large volume of investments reflects the need for the state-owned company to develop the field. As is well known,... Continue Reading →
Brazil Energy Insight 