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On December 13, 193 blocks were auctioned in Brazil’s oil and gas licensing round, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: • The total amount in bonuses was US$85 million • 44 blocks were acquired in the Pelotas Basin, a frontier area. Petrobras will operate 29 and Chevron... Continue Reading →
(TN) The ANP held yesterday (13/12) the public auctions of the 4th Cycle of the Permanent Concession Offer (OPC) and the 2nd Cycle of the Permanent Sharing Offer (OPP). In the 4th Cycle of the OPC, 192 exploratory blocks were awarded, in all nine basins that had areas on offer, a record number in the... Continue Reading →
(OET) Uruguay’s state-owned energy company ANCAP has tucked a new milestone under its belt with the signing of contracts for four offshore blocks with three oil and gas players in line with the framework of the Open Uruguay Round that has been in force since 2019. As a result, the UK-headquartered Shell, the U.S.-based APA Corporation, and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that it has acquired 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras acquired blocks P-M-1739, P-M-1737 and P-M-1797 in partnership with CNOOC Petroleum Brasil Ltda (CNOOC) and Shell Brasil Petróleo Ltda (Shell).... Continue Reading →
(Z) Petrobras, the Brazilian state-owned energy company, has announced the extension of its existing contracts for two offshore drilling rigs owned by Constellation Oil Services. This news coincides with the launch of two separate tenders for hiring additional well-intervention rigs, demonstrating Petrobras' continued commitment to investments in its offshore operations. Rig Contract Extensions Petrobras has... Continue Reading →
(OET) Joint venture (JV) partners in the Corentyne block – Canada’s CGX Energy and Frontera Energy – are on the lookout for partners to enable the development of discoveries on the Corentyne block offshore Guyana, as exploration results support the potential for a standalone shallow oil resource development across the block. CGX and Frontera highlight... Continue Reading →
(PN) The board of directors of the National Petroleum Agency (ANP) approved the geological and economic studies that resulted in the delimitation of two more pre-salt exploratory blocks: Rubi and Granada, both located in the Santos Basin. The agency will forward the studies to the Ministry of Mines and Energy (MME) to analyze the feasibility... Continue Reading →
The ODN-II drillship, which will be used to drill the Pitu Oeste well, in the Potiguar Basin, is already heading towards the location, on the coast of Rio Grande do Norte. Drilling, scheduled to begin in December, will take place in block BM-POT-17. This will mark Petrobras' return to the Equatorial Margin, which stretches from... Continue Reading →
(OP) In Guyana’s territorial waters, after Exxon’s swathe of world-class petroleum discoveries, gigantic ships called floating production storage and offloading (FPSO) vessels are sucking crude oil from reservoirs up to four miles below the Earth’s surface. Since then, it has been estimated the former British colony of just over 800,000 possesses at least 11 billion barrels of recoverable... Continue Reading →
(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement. A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company's refineries at between 420,000... Continue Reading →
Brazil Energy Insight 