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December 19, 2019 Royalties are the most traditional form of taxation of mineral resources in the world. It is compensation for the exploitation of a mineral resource designed to ensure that future generations enjoy the benefits that exploitation of the non-renewable natural resource provides to the current generation. In the Brazilian case, according to Law... Continue Reading →
Dec 19, 2019 TGS has completed a new multibeam and coring program covering over 213,0000 square kilometers in the Campos and Santos basins of offshore Brazil. This study, known as a SeepHunter campaign, includes the results of 342 conventional cores and 29 jumbo piston cores and heat probes. In additon, advanced geochemistry has been performed... Continue Reading →
Dec 16, 2019 The Brazilian Institute of Oil, Gas and Biofuels (IBP) has sent a letter to the Ministries of Economy and Infrastructure asking the government to evaluate the inclusion of tankers in the BR do Mar project, the Bolsonaro government's promise to encourage cabotage navigation. in Brazil. The IBP, which represents oil companies installed... Continue Reading →
The United Kingdom’s latest offshore licensing round has attracted 104 applications covering 245 blocks or part-blocks across the main producing areas of the UK Continental Shelf (UKCS). Applications were received from 71 companies ranging from multinationals to new country entrants, according to a Monday statement by UK’s Oil and Gas Authority (OGA). The 32nd UK... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage ( teaser) , referring to the sale of its interest in the concession BM-P2, located in the Pelotas Basin, in the state of Rio Grande do Sul. Petrobras and Total are partners in this concession and each has... Continue Reading →
Announcing the delivery on Friday, Keppel said that, as part of the deal, Grupo R had entered into a sale and leaseback arrangement for the rig with a wholly-owned subsidiary of Keppel O&M. Keppel O&M will purchase the rig from Grupo R for about $190m which is the balance contract value of the rig. Keppel... Continue Reading →
Dec 12, 2019 Seismic services provider Polarcus has been awarded a marine seismic acquisition program in Brazil. Polarcus said on Thursday that the program would start in the third quarter of 2020 with a duration of approximately ten months. The program comprises 4D acquisition in obstructed areas with a multi-azimuth component. Polarcus has not revealed... Continue Reading →
Norway’s Equinor has awarded Archer a new four-year contract for the provision of platform drilling management services on the Peregrino field development on the Peregrino A and B platforms located offshore Brazil. Archer said on Monday that the contract is effective from December 1, 2020. The new four-year contract awarded will be in direct continuation... Continue Reading →
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers. Though storm clouds persist, there appears a clearing on... Continue Reading →
Suriname’s national oil company Staatsolie has completed its Nearshore Drilling Project in the country, which consisted of six wells, but failed to make a commercial oil discovery. Staatsolie said earlier this week that it had drilled six exploration wells as part of its nearshore drilling campaign. While no commercial oil discovery was made, valuable data... Continue Reading →
Brazil Energy Insight 