June 2, 2016 9:58am EDT Reuters Brazil's lower house of Congress could pass a bill in July ending the exclusive right of state-run oil company Petrobras to operate new projects in the deep-sea offshore area known as the subsalt, the head of Brazil's oil industry association IBP said on Thursday. Jorge Camargo, speaking at a... Continue Reading →

May 19 Investment management firm EIG Management Co added Brazil's engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA. EIG, in a filing on Wednesday, alleged that Odebrecht SA and other shipyards along with Petrobras misled the firm to invest over $221 million to purchase... Continue Reading →

May 17 Brazilian petroleum regulator ANP said on Tuesday that it extended state-run oil company Petroleo Brasileiro SA's concessions to explore and produce oil from the Marlim and Voador offshore fields for 27 years, to 2052. The extensions were made to help facilitate new investment in the fields, which require new wells, production equipment and... Continue Reading →

Under Brazilian law, if more than one company owns an oil field, they must negotiate an agreement to operate it as a single unit with a single operator, or lead partner, a process known as unitization. Problems with this arose after Brazil changed industry rules in 2010, creating a system of production-sharing contracts for all... Continue Reading →

May 10, 2016 Reuters Brazil plans to publish regulations in coming days to allow companies other than state-run Petrobras to operate some oil production-sharing contracts in the Subsalt Polygon, a source participating in discussions of the rules told Reuters. The rules will only allow non-Petrobras companies to operate Subsalt Polygon blocks if the blocks are... Continue Reading →

Source: O Globo newspaper Faced with the crisis of the naval sector, Petrobras has shifted to building at least nine platforms – from a group of ten ordered to shipyards involved in the investigation of the Lava-jet operation - to Asia, mainly to China and Thailand . Yesterday, Petrobras gave another sign of its approach... Continue Reading →

Rio de Janeiro, May 6, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in April amounted to 2.69 million barrels of oil equivalent per day (boed), of which 2.50 million boe were produced in Brazil and 190,000 boed abroad. The average oil production in April was 2.12... Continue Reading →

May 5, 2016  Reuters * Ensco Plc - Concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts - SEC Filing * Ensco Plc - Ensco 6002 has had its contract term extended to December 2019 * Ensco Plc - Previous downtime on Ensco 6001 that could have been applied toward... Continue Reading →