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(PN) Petrobras declared that it identified the presence of hydrocarbons in the Pitu Oeste exploratory well, in the Potiguar Basin on the Equatorial Margin. The results, however, are still inconclusive regarding the economic viability of the area. The discovery has already been notified to the National Petroleum Agency (ANP). The Pitu Oeste well is located... Continue Reading →
(Reuters) - BP (BP.L), opens new tab expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy (WDS.AX), opens new tab, to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake... Continue Reading →
(Reuters) - Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas (PETRA.UL) in the South American country. Baseri did not specify the incentives his company is looking for, but lower royalties and taxes, or commercial incentives often hasten investment decisions by energy companies.... Continue Reading →
(OM) Rockhopper Exploration has commented on a progress report on the Sea Lion oil development in the offshore North Falkland basin from operator Navitas Petroleum LP. This includes an updated development plan, which takes into account static and dynamic reservoir models. Netherland Sewell & Associates’ latest independent report has increased gross 2C resources in the partners’ licenses in the basin... Continue Reading →
(OM) Eco Orinduik has informed Guyana’s Minister of Natural Resources of its intention to enter the second phase of the second renewal period of the offshore Orinduik license. There is a commitment to drill one exploration well into the Cretaceous Formation before the license period ends on Jan. 13, 2026. TOQAP Guyana, the joint entity held... Continue Reading →
(PN) New numbers point to an increase in well drilling activity in Brazil. The National Petroleum Agency (ANP) revealed new data forecasting investments in exploration in Brazil. According to the regulatory body, oil companies located in the country must spend US$1.96 billion on exploration during the year 2024. Well drilling is the activity that will... Continue Reading →
(OE) Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries. After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job. The technologically advanced drillship is capable of operating at water depths of up to... Continue Reading →
(OM) A major capex shift from North America to international markets has been ongoing since early 2023, according to Evercore ISI’s latest Offshore Rig Market Snapshot. This trend has been concurrent with low natural gas prices in the US, which has prompted a number of rigs to out into international markets. Combined with attractive offshore... Continue Reading →
(OET) Offshore drilling contractor Stena Drilling has confirmed that one of its drillships is on its way to Las Palmas to start its special period survey (SPS). According to Stena Drilling, the Stena Carron drillship has headed to Las Palmas to start its SPS. The company looks forward to the rig’s return to Guyana, where it will... Continue Reading →
(WO) – Molecular Energies confirmed that the Tapir x-1 exploration well at the Pirity Concession in the Chaco, Paraguay, has been spudded. Target depth is approximately 3,800 m with an estimated drilling time of 45 days. The prospect and the adjacent complex of prospects being drilled are covered by good quality 3D seismic data from... Continue Reading →
Brazil Energy Insight 