Read online Press release 3 August 2015 BG Group starts up sixth FPSO in the Santos Basin, offshore Brazil BG Group (LSE: BG.L), a world leader in exploration and LNG, today announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the Group's... Continue Reading →
Petrobras begins production in Iracema Norte
Petrobras begins production in Iracema Norte 07/31/2015 Rio de Janeiro, July 31, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it has begun production from the Iracema Norte project with the startup on this Friday (July/31) of the Cidade de Itaguaí platform. The Iracema Norte area is located in the Lula field, in... Continue Reading →
Exxon’s Guyana Oil Find
An Exxon Mobil Corp. discovery off the coast of Guyana may hold oil and natural gas worth 12 times the South American nation’s entire economic output. The Liza-1 well, which probably holds the equivalent of more than 700 million barrels of oil, may begin pumping crude in as few as five years, Raphael Trotman, Guyana’s... Continue Reading →
Sete Brasil Ex President Admits Taking Bribes
Sete Brasil's ex president, João Carlos Ferraz, admited that in a moment of weakness in 2013 he accepted bribes of U$1.9 million from the shipyards constructing Sete's rigs. The company's board have taken legal action and are asking for R$22 million in restitution. The company's board assures that this incident will not affect the on... Continue Reading →
Shrinking Shallow-Water Drilling in the U.S. GOM
Energy producers are abandoning the search for oil and natural gas close to shore in the U.S. Gulf of Mexico as drilling budgets shrink and exploration migrates to land-based shale fields. The number of permits for new wells in seas less than 500 feet (152 meters) deep plunged 74 percent to nine during the first... Continue Reading →
Big Oil to Battle for Mexico’s Deep Crude
Mexico is about to undergo its first subsea land rush. International energy producers that sat out Mexico’s historic auction of oil and natural gas fields this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month. Read More
Norway’s Subsea 7 to Build Terminal in Paranaguá
Norway's Subsea 7 has received permission to build and operate a terminal in the port city of Paranaguá in the state of Parana. The terminal will cost approximately R$ 103 million and it will be used to warehouse and transfer carbon fiber flexible and rigid tubing and other offshore material.
PetroRio Thinking of Bidding on Norths Sea Oil Assets
Riverstone Holdings LLC and Blackstone Group LP-backed Siccar Point Energy Ltd. are considering bidding for oil and gas fields in the North Sea that are being sold by Russian billionaire Mikhail Fridman’s LetterOne, people with knowledge of the situation said. The firms, as well as Rio de Janeiro-based oil producer PetroRio SA, are expected to... Continue Reading →
ANP Expects U$870 Million in Exploration Work from Auction in October
Oil companies are expected to invest about 2.8 billion reais ($870 million) to complete minimum exploration work at concessions Brazil plans to auction in October, according to the country’s oil regulator. ANP expects signing bonuses for the offshore and onshore blocks to reach 979 million reais, Read More
Ailing Sete Brasil Talks on Debt Releif
A group of five Brazilian banks will refinance about 11.5 billion reais ($3.6 billion) in loans for ailing Sete Brasil Participações SA for a further 45 days, in a bid to keep the oil rig maker afloat, two sources with direct knowledge of the matter said on Thursday. State banks Banco do Brasil SA and... Continue Reading →
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