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(Reuters) Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday. The Brazilian state energy firm is in talks with companies, including existing partners ExxonMobi, Shell and TotalEnergies, to buy... Continue Reading →
(offshore-energy.biz) Brazil’s deepwater offshore drilling contractor Ventura Offshore has struck a deal with Umas 1 as the seller of a semi-submersible rig the firm decided to acquire last year to make a lump sum payment as a final settlement. Ventura Offshore Midco disclosed at the end of June 2024 the acquisition of the SSV Catarina, the... Continue Reading →
(Reuters) - Trinidad and Tobago, the largest producer of liquefied natural gas in Latin America and the Caribbean, is seeing an increase in government revenue from LNG exports by selling cargoes at between 15% and 55% above Henry Hub prices, energy minister Stuart Young said on Monday. The increase follows a contract revamp in late... Continue Reading →
(offshore-energy.biz) Four mobile offshore drilling units (MODUs), made up of drillships owned by Noble Corporation and Stena Drilling, have buckled down and resumed hydrocarbon exploration at the Stabroek block off the coast of Guyana, enabling ExxonMobil Guyana, a subsidiary of America’s oil major ExxonMobil, to stay the course and continue searching for more oil and... Continue Reading →
(oilnow.gy) High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to 69 in 2024. In this regard, South America could see 17 of these wells being drilled, making it the busiest region globally this year. This is according to energy market research and intelligence group, Westwood... Continue Reading →
(offshore-energy.biz) Australia’s oil and gas company Karoon Energy is expected to make up its mind around April 2025 about moving forward with the next stage of development, which represents the entry into front-end engineering design (FEED), for an oil field discovery in the Santos Basin off the coast of Brazil. While Karoon hired a rig... Continue Reading →
Subsea7 managed to come out on top and present the best proposal in a Petrobras bidding process for the supply of SURF (subsea umbilicals, risers and flowlines) for the P-83 (Buzios 11) platform vessel. The Norwegian company submitted an offer of R$8.45 billion (US$1.4 billion) in the competition. The Swiss company Allseas came in second... Continue Reading →
(offshore-energy.biz) Suriname’s national oil company (NOC) Staatsolie Maatschappij Suriname (Staatsolie) is taking action to secure the money required to cover its part of the development costs for the first-ever offshore oil field in Suriname, which is operated by France’s energy giant TotalEnergies. Based on the production sharing contract for Block 58, Staatsolie has the right... Continue Reading →
(offshore-energy.biz) Guyana’s Office of the Prime Minister has put its stamp of approval on planned budgetary allocations of $141.45 billion, which is anticipated to lend a helping hand in finishing important projects. As a result, this amount encapsulates a $51.2 billion investment to bolster the country’s flagship gas-to-energy (GtE) project. This sum makes up the lion’s share of a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras hereby informs that it has received, this week, the following contingent payment installments (earnout): (i) R$2.161 billion from the partners of the Sépia and Atapu blocks - TotalEnergies EP Brasil Ltda. (28%), PETRONAS Petróleo Brasil Ltda. (21%) and QatarEnergy Brasil Ltda. (21%) in Sépia; Shell Brasil Petróleo Ltda. (25%) and... Continue Reading →
Brazil Energy Insight 