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About 157,706 barrels, or 9%, of oil production in the U.S. Gulf of Mexico were shut on Wednesday by Hurricane Ian, said offshore regulator Bureau of Safety and Environmental Enforcement. Hurricane Ian was lashing Florida's Gulf Coast with powerful winds and drenching rain, but the Category 5 storm steered clear of the Gulf's richest oil production areas. ... Continue Reading →
Finland-headquartered technology group Wärtsilä has inked what is described as “a pioneering agreement” for decarbonisation projects in the oil and gas segment in the Americas with Brazil’s shipping company Grupo CBO. This is the Finnish player’s first contract in the decarbonisation area for the oil and gas sector in Latin America, and the second one in the Americas. CBO... Continue Reading →
One of Seadrill’s drillships has arrived in Brazil to complete testing operations ahead of its three-year contract with Petrobras. Seadrill secured two contracts with Petrobras for the West Carina and West Tellus rigs back in November 2021. Both agreements, for work on the Búzios field, were signed on a three-year fixed-term basis with a planned start date... Continue Reading →
(TN) Petrobras' divestment strategy was instrumental in boosting competitiveness and expanding production from mature fields in the country. The percentage of mature concessions operated by companies other than Petrobras - increased from 16% in 2010 to 38% in 2021. During this period, the number of operating companies jumped from 24 to 44. companies have given... Continue Reading →
(U) The Brazilian government forecasts the country’s oil production will grow 70% by the end of the decade, propelled by multibillion-dollar investments from state-controlled company Petrobras and other operators. Brazil is recovering faster when compared to the world’s largest economies, Mines and Energy Minister Adolfo Sachsida said Monday during the opening ceremony of the Rio... Continue Reading →
Australia’s oil and gas company Karoon Energy has decided to postpone intervention activities on the fourth well at a field, located offshore Brazil. As a result, a Maersk Drilling-owned semi-submersible rig, which was used during the three-well intervention campaign, will now carry out drilling operations on another Brazilian field for Karoon. Back in April 2021,... Continue Reading →
(U) Brazil’s Prio intends to become one of the largest independent oil and gas companies in the Americas and is counting on more than doubling its production over the next two years to meet that target. With a solid cash position of $1.2 billion, the company is simultaneously developing a pair of clusters in the... Continue Reading →
VAALCO Energy said Monday that the Government of Equatorial Guinea has approved the Venus - Block P Plan of Development (“POD”). VAALCO has an 80% participation interest in the project and is the operator. Upon the execution of final documents, VAALCO will proceed directly to project execution, which targets first oil in 2026 and adds... Continue Reading →
Zenith Energy has made an offer to the Republic of Benin operate Block 1 containing the "largest and most prospective oilfield in the country". The shallow water block in the Gulf of Guinea contains the Sèmè oilfield, which was discovered in 1968 and produced for 14 years, but was shut-in in 1998. Now, Zenith is... Continue Reading →
(WO) Radix Engineering and Software closed a R$49 million (approx. $9.5 million) contract with Petrobras to develop and maintain scientific software focused on Well Engineering and Subsea Engineering. Radix will develop software for two lots of subsea and one lot of wells, marking its return to large contracts with Petrobras. The partnership will last for... Continue Reading →
Brazil Energy Insight 