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(Reuters) Venezuela and Trinidad and Tobago will continue negotiations on jointly developing a dormant offshore natural gas field, with a meeting scheduled for mid-June in Caracas, according to three sources familiar with the matter. Officials from both governments last met in March in Venezuela, where they signed confidentiality agreements required to set up a negotiation... Continue Reading →
Exclusive article from TN Magazine The oil industry's activity resembles a moving bicycle. Without new impulses, the activity remains for a while, but tends to gradually decline and eventually cease. In the oil sector, these impulses can be given in two ways: with the exploration of new areas; or with investments in existing fields to... Continue Reading →
(Reuters) - Argentina's government will next week call for bids to reverse the flow of natural gas on a major pipeline designed to transport Vaca Muerta production to the north and center of the country, Economy Minister Sergio Massa said on Friday. Vaca Muerta is a massive shale formation in western Argentina seen as key... Continue Reading →
Oilfield services firm TechnipFMC has won a contract to supply subsea umbilicals, risers, and flowlines (SURF) for the recently sanctioned $9 billion BM-C-33 offshore development in Brazil. The contract was awarded by Equinor, the operator of the offshore block, on behalf of its partners Repsol Sinopec Brasil and Petrobras. Located in the Campos Basin, BM-C-33... Continue Reading →
(OE) Japanese FPSO supplier MODEC has won a contract with Equinor to supply an FPSO vessel for the BM-C-33 block of the Campos Basin offshore Brazil. The order comes just days after Equinor and its partners Repsol Sinopec Brasil, and Petrobras took the $9 billion investment decision to develop the BM-C-33 project in Brazil. Located in the... Continue Reading →
Equinor, Repsol Sinopec Brasil, and Petrobras have taken the investment decision to develop the BM-C-33 project in Brazil. The investment is approximately USD 9 billion. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas and oil/condensate recoverable reserves above one billion barrels... Continue Reading →
In 1Q23, average oil, NGL and natural gas production reached 2.68 MMboed, 1.1% higher than 4Q22, mainly due to the start of the ramp-up of P-71, in Itapu field, in Santos Basin pre-salt, the start-up of 8 new wells in Campos Basin and higher production efficiencies in the platforms. Pre-salt production reached a new monthly... Continue Reading →
(OM) Brazil has all the ingredients in place to lead the world in terms of low-emission/high-profit oil and gas production, according to Carlos Travassos, chief engineering, technology and innovation officer at Petrobras. He spoke at the Offshore Technology Conference (OTC) yesterday on the panel “Brazilian Energy Outlook: Strengthening the Offshore Activities.” Travassos cited the company’s... Continue Reading →
Malaysia-based FPSO supplier Yinson Production has ordered a submerged turbine solution from Framo, for regenerating energy from the waste cooling water flowing from offshore installations. Framo said Yinson was the first to opt for its technology, which will reduce Yinson's carbon footprint, cut CO2 taxes, and enable increased gas exports. "Offshore installations use huge volumes... Continue Reading →
(Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) has abandoned a plan to sell its 44% stake in a promising offshore gas project it shares with Colombia's Ecopetrol (ECO.CN) in the Andean country, a Petrobras executive said at a Houston energy conference on Monday. Petrobras and Ecopetrol last year announced a natural gas discovery at the Uchuva-1 deepwater well... Continue Reading →
Brazil Energy Insight 