Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces the start-up of the Early Production System in Sépia, the former Nordeste de Tupi area, in the pre-salt layer of the Santos Basin. The operation was handled by the floating platform FPSO Cidade de São Vicente, which will produce around 20,000 ... Continue Reading →
Petrobras – Termination of the sale contracts in the Concessions of Bijupirá and Salema
02/29/2016 Rio de Janeiro, February 29, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the contracts regarding the sale of its 20% interest in the concessions of Bijupirá and Salema, signed on July 1st, 2015, with PetroRio S.A., have been terminated. Therefore, Petrobras maintains its 20% stake in those fields, in partnership with Shell,... Continue Reading →
Big Oil Moves to Drill in Brazil — Not Because Things Improved
Major oil producers are beginning to confront the need to develop offshore prospects in Brazil, or lose them. Total SA and BP Plc are starting to search the market for drilling rigs, helicopters and support vessels for deepwater Brazilian fields even as the industry endures its worst downturn in a generation, three people involved in... Continue Reading →
Petrobras – Oil and natural gas production in January
Rio de Janeiro, February 29, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its average oil and natural gas production amounted to 2.47 million barrels of oil equivalent per day (boed) in Brazil and 183,000 boed abroad, totaling 2.65 million barrels boed. Oil production averaged 2 million barrels per day (bpd) in Brazil and... Continue Reading →
Bill to Open Brazil’s Offshore Oil Fields to Foreigners Still Faces Fierce Opposition
Despite Senate vote, opponents consider measure an affront to nation’s control of natural resource By WILL CONNORS and PAULO TREVISANI/WSJ Feb. 25, 2016 RIO DE JANEIRO—Legislation to open coveted offshore oil fields in Brazil to foreign players took a major step forward this week, but still faces fierce resistance from opponents who consider the measure... Continue Reading →
Brazil Senate Votes to Limit Petrobras Role in Deep Waters
Brazil’s Senate approved legislation that relieves Petrobras of its role as sole operator and mandatory stakeholder in so-called pre-salt deepwater oilfields, potentially allowing the state-run company to direct resources to more profitable operations. Legislators on Wednesday night voted 40 to 26 in favor of the bill, which was introduced by opposition Senator Jose Serra and now goes... Continue Reading →
UPDATE 1-Sete Brasil plans bankruptcy in week if no Petrobras lease proposal
Sete Brasil Participações SA plans to file for bankruptcy protection if state-controlled oil producer Petróleo Brasileiro SA, the rig builder's sole client, fails to present a final lease contract proposal in a week's time, three sources with direct knowledge of the matter said on Friday. Both Sete Brasil and Petrobras declined to comment. Petrobras, as... Continue Reading →
Petrobras – New well in Libra confirms oil discovery extension in the block
02/17/2016 Rio de Janeiro, February 17, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that has concluded the drilling of the well 3-BRSA-1305A-RJS (3-RJS-739A), located in the Libra block northwest area, in the pre-salt of the Santos Basin, confirming the discovery of good quality oil in reservoirs with excellent productivity. The well found an oil... Continue Reading →
Petrobras starts operation of Rota 2, the second largest gas pipeline in the pre-salt
Pre-salt Pipeline Begins Operating Petrobras starts operation of Rota 2, the second largest gas pipeline in the pre-salt. The FPSO Cidade de Maricá, in the Lula field, in the Santos Basin also began production [16.02.2016] By Gustavo Gaudarde/Brasil Energy In Santos, the president of Petrobras Aldemir Bendine said the company will give priority to divestiture... Continue Reading →
Brazil Senate may vote to cut Petrobras subsalt preference on Wednesday
Feb 16, 2016 Reuters BRASILIA Brazil's Senate may soon vote on a bill ending state-led oil company Petrobras' obligation to run all new development and pay at least 30 percent of the costs of all new offshore development in the Subsalt Polygon oil region, Renan Calheiros, the Senate's president, said on Tuesday. The vote, sponsored... Continue Reading →
Brazil Energy Insight 