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Nov. 13 (OE) ExxonMobil has made a final investment decision (FID) for the Longtail gas and condensate development offshore Guyana following government and regulatory approvals, with an additional investment of $12.5 billion planned and production targeted to start in 2030. Longtail will be the eighth development in the Stabroek block, targeting non-associated gas and condensate-rich... Continue Reading →
Nov. 12 - Brava Energia has begun drilling two new wells at the Atlanta Field, located in the Santos Basin. To carry out this campaign, the company has mobilized the Lone Star drilling rig to the Santos Basin, continuing its strategy of integrating its offshore operations. The rig was relocated following the completion of work... Continue Reading →
Nov. 12 (PN) Petrobras expects to add at least 520,000 barrels of oil per day to its production capacity by expanding the capacity of its existing FPSOs. According to the company’s CEO, Magda Chambriard, this strategy will allow for the acceleration of additional production by four years, while also avoiding an estimated $10 billion to... Continue Reading →
Nov. 12 (Reuters) BP is in talks with Petrobras to sell a stake in its Bumerangue oil block off the coast of Brazil, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters could not independently verify the report. BP and Petrobras did not immediately respond to Reuters' requests for comment. Here are... Continue Reading →
Nov. 10 - In a quarter marked by strong operational performance, with record results in the E&P, Refining and Marketing segments, Petrobras reported net income of BRL 39.8 billion (US$ 7.7 billion) in the third quarter of 2024. Excluding one-off items in the quarter, net income reached BRL 47.9 billion (US$ 9.3 billion), representing a... Continue Reading →
Nov. 10 - Petrobras announces that it has raised its 2026 production projections. The estimate for total oil and gas production attributable to Petrobras has increased from 3.1 million boed to a range of 3.3 million to 3.4 million boed. The projection for oil and NGL production has increased from 2.5 million bpd to a... Continue Reading →
Nov. 10 (oilprice.com) Hamburg-based International Tribunal for the Law of the Sea on Tuesday begins hearings of Argentina’s complaint about the UK’s oil drilling project north of the Falkland Islands, which Argentinian President Javier Milei claims is unlawful amid a recently revived row with Britain over who controls the Falklands. The Sea Lion oil field... Continue Reading →
Nov. 10 (OE) Eco (Atlantic) Oil & Gas has completed the farm-down of 60% participating interests in three Namibia’s offshore exploration licenses to BP, transferring operatorship of the blocks and clearing the way for a new seismic exploration program. The transaction covers Block 2012A under PEL97 (Cooper), Blocks 2111B and 2211A under PEL99 (Guy), and... Continue Reading →
Nov. 8 (PN) On the eve of completing 50 years of production, the Campos Basin finds itself at a decisive juncture for its future within the Brazilian oil and gas industry. Responsible for more than half of all the oil ever produced in the country, the region is now grappling with the effects of field... Continue Reading →
Nov 9 (PN) Brazil’s oil production is projected to reach a peak of approximately 5 million barrels per day by 2028, driven primarily by the start of operations for new units in the pre-salt region. This forecast is included in the Oil and Natural Gas Production section of the Ten-Year Energy Expansion Plan 2036 (PDE... Continue Reading →
