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(OET) Within its 2024 Business Strategy and Development Plan, China’s oil and gas giant CNOOC Limited has outlined a set of objectives for the year ahead. With energy demand on the rise, the Chinese giant has unveiled intentions to step up oil and gas production, bolster its hydrocarbon reserves, and scale up natural gas exploration... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it expressed today to the National Energy Policy Council (CNPE) its interest in the right of first refusal in a block to be tendered in the Permanent Offer System, under the Production Sharing Regime, under the terms of Law 12,351/2010 and Federal Decree 9,041/2017. The Company will disclose... Continue Reading →
(OE) The topside modules for the giant Bacalhau floating production storage and offloading (FPSO) unit have started the journey to Singapore where they will be integrated with the hull before heading for an assignment to Equinor-operated oil project offshore Brazil. The 22,000 tons of newly constructed modules, designed and built by Norwegian firm Aibel, have... Continue Reading →
(OP) After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves in the country this... Continue Reading →
(Reuters) - BP (BP.L), opens new tab expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy (WDS.AX), opens new tab, to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake... Continue Reading →
(Reuters) - Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas (PETRA.UL) in the South American country. Baseri did not specify the incentives his company is looking for, but lower royalties and taxes, or commercial incentives often hasten investment decisions by energy companies.... Continue Reading →
(OM) Rockhopper Exploration has commented on a progress report on the Sea Lion oil development in the offshore North Falkland basin from operator Navitas Petroleum LP. This includes an updated development plan, which takes into account static and dynamic reservoir models. Netherland Sewell & Associates’ latest independent report has increased gross 2C resources in the partners’ licenses in the basin... Continue Reading →
(OM) Eco Orinduik has informed Guyana’s Minister of Natural Resources of its intention to enter the second phase of the second renewal period of the offshore Orinduik license. There is a commitment to drill one exploration well into the Cretaceous Formation before the license period ends on Jan. 13, 2026. TOQAP Guyana, the joint entity held... Continue Reading →
(PN) New numbers point to an increase in well drilling activity in Brazil. The National Petroleum Agency (ANP) revealed new data forecasting investments in exploration in Brazil. According to the regulatory body, oil companies located in the country must spend US$1.96 billion on exploration during the year 2024. Well drilling is the activity that will... Continue Reading →
(OE) Singapore’s Offshore Frontier Solution – a joint venture between MODEC and Toyo Engineering Corporation – has awarded ABB a contract to deliver a complete electrical system and associated digital solutions for Errea Wittu floating production storage and offloading (FPSO) unit. Errea Wittu FPSO will be operated approximately 200 kilometers off the coast of Guyana... Continue Reading →
Brazil Energy Insight 