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U.S. oil company Talos will have a formal resource report on its large Zama oil discovery offshore Mexico by the end of the year. Talos made the discovery in 2017 – one of the largest shallow-water finds in decades – and has during the summer completed the appraisal program at the field aimed to better... Continue Reading →
Nov 5, 2019 PetroRio expects to reduce its extraction cost to $ 20 a barrel by December. The company closed the third quarter of 2019 at a cost of $ 22.9 a barrel, compared with $ 24 in the second quarter. According to the Brazilian oil company, the reduction of extraction costs was made possible... Continue Reading →
Nov 1, 2019 The Piauí-Alabama consortium, led by Triunfo Logística, was the winner of the bid to contract the decommissioning of the fixed platforms of the Cação field in the Espírito Santo Basin. The amount presented by the group to provide the service was R $ 38.5 million. The result was announced by Petrobras following... Continue Reading →
November 1, 2019 Equinor is the second largest oil company in Brazil in terms of oil and gas production volume. And if it depends on the company's plans, the idea is to further expand these numbers. That's what the company's global supply chain vice president, Mauro Andrade reveals. "We estimate that with the entry of... Continue Reading →
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country’s crude. The proliferation of niche players, ranging from private equity firms to domestic and international... Continue Reading →
October 30, 2019 The new oil auctions to be held by the National Petroleum, Natural Gas and Biofuels Agency (ANP) should generate demand for the installation of 50 to 60 new offshore platforms. The information was highlighted by the director general of the agency, Décio Oddone, during breakfast at OTC Brasil 2019. “All of this... Continue Reading →
The offshore decommissioning market is estimated to be valued at USD 6.2 billion in 2019 and is projected to reach USD 8.9 billion by 2027, at a CAGR of 4.8% during the forecast period. The global offshore decommissioning market is dominated by leading players that have an extensive regional presence, said ResearchAndMarkets. The leading players... Continue Reading →
October 28, 2019 The forecast is to invest US $ 21 billion by 2023 to maintain the Campos Basin production curve. At the same time as it sets record highs in the pre-salt, Petrobras is facing the challenge of containing the sharp natural decline of its production in the Campos Basin post-salt. The company, however,... Continue Reading →
Oil and gas company Cairn Energy has completed the first well in its drilling program offshore Mexico, but failed to prove hydrocarbons. Cairn expects to start drilling its second well off Mexico in November. In an update on Monday, Cairn said that the exploration target of the Alom-1 well on Block 9 was to prove... Continue Reading →
Italian oil service group Saipem is pressing ahead with plans to find a partner for its drilling unit to focus on its core business of building offshore installations and pipelines, the company's chief said on Thursday. Saipem makes most of its revenues from its engineering and construction (E&C) unit but wants to keep exposure to... Continue Reading →
Brazil Energy Insight 