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(Reuters) Brazilian state-run oil company Petrobras and its Colombian counterpart Ecopetrol could have the licenses needed for moving forward a joint offshore gas project in Colombia by mid-2026, said Orlando Velandia, head of Colombia's hydrocarbons regulator. Some 6 trillion cubic feet (TCF) of natural gas reserves have been confirmed, making the project commercial. The partners... Continue Reading →
(oilprice.com) Guyana’s government has officially yanked the plug on the Frontera-CGX joint venture, canceling its oil prospecting license for the Corentyne block. The writing had been on the wall since February, when officials gave the JV a 30-day warning. Now, it’s official. The Corentyne block was supposed to be a much-needed diversification play in Guyana’s... Continue Reading →
(Reuters) - Argentina's energy company YPF wants to speed up a divestiture plan that includes selling controlling stakes in offshore exploration projects in Argentina and Uruguay, reducing its presence in mature fields and later offering a gas distribution company for sale, chief executive officer Horacio Marin said. YPF has exploration rights in seven offshore areas,... Continue Reading →
(OE) The ABS-classed Liza Unity has become the first FPSO in the world to receive the SUSTAIN-2 notation from ABS. The notation is the next level in the vessel sustainability program developed by ABS to help fleets meet the environmental and human elements requirements contained in the strategic Sustainable Development Goals (SDGs) from the United Nations. Liza Unity was the first... Continue Reading →
(Reuters) Petrobras is looking at potential opportunities in Argentina while advancing in projects in Colombia and Africa, the firm's exploration and production head Sylvia dos Anjos said on Tuesday. Gas from the Vaca Muerta region would be interesting to Petrobras as a pipeline connecting Argentina, Bolivia and Brazil could be used to transport it, Anjos said on the... Continue Reading →
(Reuters) - The eighth energy project in Guyana of a consortium led by U.S. major Exxon Mobil will produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day on condensate through a floating production facility that will have capacity to export the fuel, the group told the government.... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the releases disclosed on 08/05/2024, 10/03/2024 and 12/05/2024, informs about the Drill Stem Test (DST) in the Sirius-2 well, located in deep waters in Colombia, 31 kilometers off the coats and at a water depth of 804 meters. The DST assessed to approximately 100 meters reservoir interval,... Continue Reading →
(oilprice.com) Latin America has long been a dominant force in the global energy market, built on vast oil and gas reserves. While the world increasingly eyes renewable sources of energy for the future, hydrocarbons remain the bedrock of economic stability for the region. As energy demand evolves, national oil companies (NOCs) must not forsake oil,... Continue Reading →
(offshore-energy.biz) Japanese giant MODEC has achieved further progress in the construction of a floating production, storage, and offloading (FPSO) destined for a big upcoming natural gas project off the coast of Brazil, thanks to the workers hired to turn the unit plan into reality, hitting 1 million work hours without lost time injury (LTI) and lost... Continue Reading →
(Reuters) Guyana's Natural Resources ministry has ordered the country's tax agency to begin a dispute resolution with Exxon Mobil over the recovery of some $214 million in expenses registered by the U.S. oil major. Expenses reported by Exxon as part of its operations at the massive Stabroek offshore block are closely monitored because a consortium... Continue Reading →
Brazil Energy Insight 