Sept 22 (Reuters) - Exxon Mobil said on Monday it greenlit funding its seventh development project in Guyana called Hammerhead, bringing its oil joint venture another step closer to its goal of producing 1.7 million barrels of oil equivalent per day by 2030 from the country. The prolific Stabroek Block off the coast of Guyana is... Continue Reading →
Chevron, Anadarko, and Westlawn shake hands on oil & gas exploration offshore Peru
Sept. 22 (offshore-energy.biz) As three oil and gas players — Chevron, Anadarko, and Westlawn — have forged a consortium to pursue hydrocarbon exploration off the coast of Peru, the results of a previously undertaken 3D marine seismic survey are the first item on their agenda, followed by a drill-or-drop decision. The trio’s formalization of their... Continue Reading →
Panama Canal Launches Concession Process for Natural Gas Pipeline
Sept. 19 (OE) The Panama Canal Authority (ACP) has launched the concessionaire selection process for a natural gas pipeline project, holding its first market engagement event with more than 45 representatives from global energy companies. The 76-kilometre pipeline, with a planned transfer capacity of up to 2.5 million barrels per day, will connect maritime terminals... Continue Reading →
Big Oil Returns To Exploration With A Bang
This year marked the return to boosting oil and gas production, and with it—increased exploration efforts in key basins and promising new frontiers. Guyana, Suriname, Namibia, and Brazil have seen major oil discoveries in recent years. Big oil scaled back on renewable energy investment and has returned to oil and gas exploration. Sept. 19 (oilprice.com)... Continue Reading →
South America’s Top 3 Fastest-Growing Oil Producers
Brazil's oil production growth is primarily driven by massive investments from Petrobras in prolific pre-salt offshore oilfields, aiming for 5 million barrels per day by 2030. Argentina has become a leading South American oil producer, with significant growth stemming from the successful exploitation of the vast Vaca Muerta shale formation. Guyana's oil production is surging... Continue Reading →
Trinidad and Tobago Gets Bids for Only Four Out of 26 Oil and Gas Blocks
Sept. 18 (Reuters) An auction of deepwater oil and gas exploration and production blocks in Trinidad and Tobago has failed to attract significant interest from foreign investors, with bids submitted for just four of the 26 areas on offer. The bidding round closed on Wednesday with bids from China's CNOOC for three areas and a... Continue Reading →
Petrobras announces participation in exploratory block in São Tomé and Príncipe
Sept. 13 - Petrobras informs that it has concluded the acquisition of a 27.5% stake in Block 4, located in São Tomé and Príncipe, Africa. With this acquisition, Petrobras joins the consortium of the aforementioned block, which includes Shell, the operator of the asset (30%), as well as Galp (27.5%) and ANP-STP (15%). Petrobras has... Continue Reading →
TotalEnergies and QatarEnergy Secure Exploration License Offshore Congo
Sept.1 (OE) TotalEnergies and its partners QatarEnergy and Société Nationale des Pétroles du Congo have been awarded an exploration license for the Nzombo offshore block in the Republic of Congo. Under the terms of the production sharing contract signed with the Congolese Government, QatarEnergy will hold a 35% participating interest in the block. TotalEnergies affiliate... Continue Reading →
Staatsolie to Open Offers for Suriname’s Offshore Oil Areas in November
Aug. 27 (Reuters) Suriname state oil firm Staatsolie will launch in November an 'open-door offering' for offshore areas to be explored and evaluated, the company said on Tuesday, as the small South American nation seeks partners and financing for what it hopes could be an oil and gas boom. Following a positive investment decision last... Continue Reading →
Brazil’s Petrobras can return to Nigeria quickly, Nigerian president says
Aug 26 (Reuters) - Brazil's state-run oil company Petrobras, which left Nigeria five years ago, should be able to return quickly, Nigerian President Bola Tinubu told a news conference with his Brazilian counterpart as part of a two-day visit to deepen ties. Petrobras began operations in Nigeria in 1998 in the deep waters off the Niger Delta.... Continue Reading →