July 7. A bill that would allow companies other than state-led Petrobras to run new oil and gas projects in Brazil's prolific subsalt region advanced on Thursday when a committee of the lower house of Congress voted to recommend it in hopes of reviving stalled petroleum investment. The bill, already passed by Brazil's Senate, will... Continue Reading →
Brazil 2017 subsalt oil rights sale to unlock stalled fields
Brazil on Tuesday said it will sell four areas in its prolific subsalt region by mid-2017 to speed up development of offshore oil and gas discoveries blocked by nationalist energy policies and state-run Petrobras' debt and financial woes. One of the areas will abut the giant Carcará prospect in the BM-S-8 block in Brazil's offshore... Continue Reading →
Petrobras -Sale of Shallow Water Assets
Rio de Janeiro, July 4, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that it has started the process of transfer of rights of oil and natural gas exploration, development and production in shallow water fields in the states of Ceará and Sergipe. Nine concessions are being offered, which had an average production of 13... Continue Reading →
Brazil’s Oleo e Gas restarts Tubarão Martelo oil field
Reuters Brazil's Óleo e Gás Participações SA, which has been under bankruptcy protection for nearly three years, said on Monday it has restarted output from its Tubarão Martelo offshore oil field near Rio de Janeiro after a four-month outage. The restart came after Óleo e Gás, formerly known as OGX Petróleo e Gás Participações SA,... Continue Reading →
Petrobras’ Indian partners fight delay in troubled Brazil oil project
Petrobras has warned its Indian partners in a huge offshore project to not expect oil from the site until 2022, according to sources, a fresh sign of how low oil prices and the state-owned company's corruption scandal and mountain of debt are dragging on Brazil's energy industry. The previously unreported, four-year delay in the "super-giant"... Continue Reading →
Exxon’s Guyana Oil Discovery May Be Twice as Large as Thought
Exxon Mobil Corp.’s oil discovery off the coast of Guyana may hold as much as 1.4 billion barrels, twice the size of the previous estimate, making it worth as much as $69.5 billion based on current prices. The Liza field 120 miles (193 kilometers) from the coast of Guyana is a “world-class discovery” that probably will yield... Continue Reading →
Wood Group won a contract to provide engineering and procurement services in the Peregrino field, owned by Statoil, in the Campos Basin.
Wood Group won a contract to provide engineering and procurement services in the Peregrino field, owned by Statoil, in the Campos Basin. The company will carry out activities with Kiewit Offshore Services manufacturer in wellhead C Statoil platform. Wood Group had already made the front-end engineering and design for this same unit last year; besides... Continue Reading →
New well in Libra confirms extension of oil discovery
Rio de Janeiro, June 15, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that the Libra Consortium has concluded the drilling and appraisal of the seventh well in the block, located in the pre-salt layer of the Santos Basin. The new well has discovered Libra’s largest net pay to date, with 410 meters of... Continue Reading →
Petrobras – Oil and natural gas production in May
Rio de Janeiro, June 8, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its total production of oil and natural gas in May was of 2.83 million barrels of oil equivalent per day (boed), 5% higher than the volume produced in April (2.69 million boed) and 2% higher than the volume produced in May... Continue Reading →
Chevron to lease Chouest’s oil vessel base at Acu in Brazil
Jun 7, 2016 The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/LUCY NICHOLSON Chevron plans to sign a 5-year agreement to lease berthing space for its vessels from U.S. oil service company Edison Chouest Offshore, Chouest's head of... Continue Reading →
Brazil Energy Insight 