Petrobras (PBR) Puts Off the Barracuda-Caratinga FPSO Tender

(Zack's) Petrobras PBR, the state-controlled oil company in Brazil, has once again delayed the bid submission deadline for chartering a floating production, storage and offloading (FPSO) vessel aimed at revitalizing operations in the Barracuda-Caratinga field within the Campos Basin. This recurring postponement reflects PBR's ongoing challenges in garnering sufficient interest from floater companies for its bidding... Continue Reading →

July 2, 2024 0

Enauta Cancels Acquisition of FPSO Cidade de Santos from MODEC

(OE) Brazilian oil and gas company Enauta has terminated the contract to acquire the floating production, storage, and offloading (FPSO) unit Cidade de Santos from MODEC, announced in relation with the acquisition of Uruguá and Tambaú fields from Petrobras. In December 2023, Enauta entered into $48.5 million agreement with MODEC to buy the FPSO Cidade... Continue Reading →

July 2, 2024 0

Fulcrum LNG to Pair with McDermott, Baker Hughes for Guyana Gas Project

(Reuters) A proposed large natural gas project in Guyana by U.S. energy developer Fulcrum LNG includes partnerships with U.S. oil service company Baker Hughes and engineering firm McDermott, the country's vice president said on Thursday. Guyana's President Irfaan Ali last week said Fulcrum LNG had been chosen from among 17 companies to help Guyana develop... Continue Reading →

June 28, 2024 0

Turning Guyana block’s oil promise into reality: Two players proclaim potential commercial interest

(Offshore-energy.biz) Joint venture (JV) partners, Canada’s CGX Energy and Frontera Energy, are seeking to undertake additional action to tap into and unleash the hydrocarbon resources on the Corentyne block offshore Guyana, given the potential for a standalone shallow oil resource development across the block, which their exploration results highlighted. As a result, the JV has... Continue Reading →

June 27, 2024 0

TotalEnergies Nets Exploration License Offshore Sao Tome and Principe

(OE) TotalEnergies has signed an agreement to acquire a 60% interest and operatorship in Block STP02, offshore Sao Tome and Principe, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP). The remaining interest will be held by the existing license holders, Sonangol (30%) and ANP-STP (10%). Located within an emerging basin, 60... Continue Reading →

June 27, 2024 0

Petrobras Impacted in Three Oil Fields by Environmental Workers’ Strike

(Reuters) A strike by environmental workers in Brazil is already impacting Petrobras' operations in three offshore oil fields, the state-run firm told Reuters on Wednesday. There have been delays in developing production in the Mero, Buzios and Marlin fields, assets that require approval from the environmental agency Ibama to increase production. Since January, Ibama employees... Continue Reading →

June 27, 2024 0

Stabroek Block cost recovery to exceed US$30 billion in 2024

(Oil Now) Cost recovery for investments into the Stabroek Block petroleum operations are set to accumulate to approximately US$31 billion by the end of 2024. The Stabroek Block Production Sharing Agreement, inked by the Guyana government, ExxonMobil, Hess and CNOOC, allows the co-venturers to recover investments by taking up to 75% of annual production as... Continue Reading →

June 25, 2024 0

ExxonMobil (XOM) Initiates Lau-Lau 2 Appraisal Offshore Guyana

(Zack's) ExxonMobil Corporation XOM has started appraisal activities at the Lau-Lau 2 well site, in the Starbroek block, offshore Guyana. Previously, in 2022, ExxonMobil had discovered 96 meters of high-quality sandstone reservoirs containing hydrocarbons at the Lau-Lau 1 exploration well site. The announcement was made by Guyana’s Maritime Administration Department (“MARAD”). MARAD also mentioned that the... Continue Reading →

June 25, 2024 0

Petrobras (PBR) Starts Drilling Uchuva-2 Well in Colombia

(Zack's) Petrobras PBR, a Brazilian oil and gas company, in partnership with Colombia-based integrated oil and gas company Ecopetrol S.A. EC, has commenced the drilling of the Uchuva-2 well in the Tayrona block, located offshore Colombia’s Caribbean coast. This move is part of a broader strategy to boost Colombia's natural gas reserves and enhance the country's energy security.... Continue Reading →

June 25, 2024 0

Chevron, GEPetrol Sign PSCs for Two Equatorial Guinea’s Offshore Blocks

Oil major Chevron and Equatorial Guinea’s state-owned oil company GEPetrol have signed two production sharing contracts (PSCs), for offshore blocks EG-06 and EG-11 in Equatorial Guinea, representing a $2 billion investment. Situated in close proximity to producing Block B which houses the Zafiro field, the blocks are considered to be highly-prospective and are poised to... Continue Reading →

June 24, 2024 0