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(offshore technology) Ecopetrol’s board of directors has approved the 2025 investment budget ranging from 24trn to 28trn pesos, with more than half allocated to crude and gas exploration and production. Approximately 20.3trn pesos, 76% of the 2025 budget, are expected to be allotted for profitable production levels between 740,000 and 745,000 barrels of oil equivalent... Continue Reading →
Portuguese oil and gas company Galp has found light oil and gas-condensate in an appraisal well drilled in Orange Basin block, offshore Namibia. The appraisal well, Mopane-1A, was spud on October 23 with Saipem’s Santorini drillship, at PEL83 offshore block. In an update from November 29, Galp has confirmed that the Mopane-1A well encountered light oil and... Continue Reading →
(Reuters) - Argentina's massive Vaca Muerta shale formation produced a record 400,000 barrels per day (bpd) of oil in the third quarter, consultancy Rystad said on Friday. The figure is a 35% year-on-year surge in production thanks to improved productivity and evacuation capacity, putting the formation on track to hit its target of 1 million... Continue Reading →
(OE) Offshore drilling contractor Constellation has secured a $130 million contract with Brava Energia for its Lone Star ultra-deepwater semi-submersible rig for work offshore Brazil. The contract is for a firm term of 400 days, with a 60-days priced option which, if executed, may keep the rig busy until the first quarter of 2027. The... Continue Reading →
BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”) informs its investors and the market in general that the Company signed, in November, the main contracts for the first integrated development campaign in Atlanta and Papa-Terra, with an option to develop Malombe through a tieback (subsea connection) to Peroa. The campaign will begin in 4Q25, with the first... Continue Reading →
(offhore-energy.biz) Bermuda-headquartered offshore drilling contractor Seadrill has welcomed back to its rig fleet two drillships, which are getting the finishing touches out of the way to begin their new multimillion-dollar drilling assignments off the coast of Brazil, which are slated to last until the end of 2027. With the acquisition of Aquadrill in April 2023,... Continue Reading →
(PN) Recently, Petrobras began drilling a new well in the Buzios Field, in a water depth of 1,939 meters, using the Carolina drillship. The information was made available by the National Petroleum Agency (ANP). The new well was given the technical name 9-BUZ-99D-RJS. The nomenclature beginning with the number 9 indicates that this is a... Continue Reading →
(oilprice) Argentina’s shale province has been touted for years as the next Permian that would make the South American country a net exporter of energy after decades of import dependence. The Vaca Muerta shale basin is estimated to be the world’s second-largest shale gas deposit and the fourth-biggest resource of shale oil. However, Argentina’s... Continue Reading →
(Bloomberg) -- Transocean Ltd. is in talks to merge with rival offshore drilling contractor Seadrill Ltd., according to people familiar with the matter, just as oil explorers around the world are returning to the sea. Shares of Seadrill jumped about 10% after the close of regular trading in New York while Transocean’s were up about... Continue Reading →
(Reuters) - Brazil state-run firm Petrobras (PETR4.SA), opens new tab plans to bring oil production at its Tupi oil field back to 1 million barrels per day by 2027 as it plans new investments in the asset, its director for exploration and production said on Thursday. Located in deep waters offshore, Tupi is Brazil's largest oil field... Continue Reading →
Brazil Energy Insight 