U.S. oil giant Exxon Mobil is at it again. The company on Thursday announced “positive results” on the Snoek well offshore Guyana, confirming a new – third – discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara, Exxon said. Read more
Petrobras – Sale process of transfer of rights for Baúna and Tartaruga Verde
Rio de Janeiro, March 29, 2017 – Petróleo Brasileiro S.A. – Petrobras, in continuation to the material facts of 10/6/2016, 12/20/2016, and 3/15/2017 and to the press release of 11/21/2016, clarifies that it has notified the Federal Supreme Court of the impossibility to proceed with the divestment process for the transfer of rights relating to... Continue Reading →
Petrobras announces auction to sell seven drilling rigs
In line with its Strategic Plan / PNG 2017-21, which intends to reduce the company's costs, Petrobras announced that it will sell seven drilling rigs through an international auction. The units will be auctioned at a public hearing, due to take place on May 10 and interested companies have until one day before to qualify... Continue Reading →
Statoil plans to continue investing in the pre salt in Brazil
Statoil president in Brazil, Anders Opedal, said the oil company is launching a long-term oil exploration investment program in the Campos Basin and Carcará fields in the pre-salt. The forecast is to participate in new auctions. The executive, who was at an event at the Brazilian Petroleum Institute (IBP) that discussed the issue of... Continue Reading →
Clarifications on the Libra Pilot Project
Rio de Janeiro, March 23, 2017 – Petróleo Brasileiro S.A. – Petrobras and its partners are committed to implementing the production sharing agreement (PSA) for the Libra area, executed in 2013 and for which Libra Pilot, the first definitive production system, scheduled for late 2020, is an important milestone. Petrobras and its partners have, since... Continue Reading →
Petrobras predicts a fine of up to U$ 630 million in case it is not released from local content in Libra platform
Petrobras predicts that if it is not cleared of complying with the local content clauses in the implementation of the first commercial platform of Libra, in the Santos Basin, and the project is still implemented, the contractual fine could reach 630 million dollars, according to a statement. The consortium that holds Libra's exploration rights,... Continue Reading →
Justice releases Petrobras to tender two pre-salt platforms
Petrobras recently had two important victories in court that freed the company to continue the bidding process for the hiring of Libra and Sepia FPSOs for the pre-salt fields. Judge Néviton Guedes, of the 5th group of the Federal Regional Court (TRF) of the 1st region, accepted Petrobras' appeal on 17 October and overturned the... Continue Reading →
Petrobras targets oil and gas extraction costs below US $ 10 / barrel
Petrobras plans to operate at production costs below 10 dollars per barrel of oil equivalent in the medium term, state oil and gas exploration and production director Solange Guedes said on a teleconference with analysts about the 2016 results. In 2016, the company's oil and gas production cost in Brazil and abroad fell 11... Continue Reading →
Suspension of Petrobras’ asset sale to Karoon still in force
zoomFPSO Cidade de Itajaí, located on the Baúna field. Image source: Teekay Oil and gas company Karoon Gas Australia has informed that a suspension of Petrobras’ process to sell two of its assets offshore Brazil to the Australian company is still in force. Earlier this week, the Brazilian Federal Accounting Court (TCU) allowed Petrobras to... Continue Reading →
Diamond Offshore wins court case against Petrobras
zoomPhoto by: Andy Grzymala ATGphotos.com Offshore driller Diamond Offshore has made a step forward in a court case against Petrobras, stemming from an early rig contract termination last year. Petrobras terminated the contract for the Ocean Valor rig in August 30, 2016. The drilling contract was originally estimated to conclude in October 2018. Diamond Offshore then, a... Continue Reading →
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