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February 21, 2020, The ANP Board approved yesterday (2/20) the first reduction in the royalty rate on the incremental production of a mature field, as provided for in ANP Resolution No. 749/2018. The incentive was granted to Campo de Polvo, in the Campos Basin, operated by the company PetroRio, within the scope of the approval... Continue Reading →
Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. Campaigning last year against the South American country’s former... Continue Reading →
FEB 10, 2020 The National Petroleum Agency (ANP) will hold the signing ceremony for the 16th Bidding Round and the 1st Permanent Bidding Cycle next Friday (14). The event will take place at the their central office, in Rio de Janeiro, from 11 am and marks the beginning of expectations for new investments in the... Continue Reading →
Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province. The consideration for each partner for their 24.5% interest is USD 177.5 million. The block covers around 56,000 gross acres in the central area of the prolific Vaca... Continue Reading →
Jan 31, 2020 In 2019, the Brazilian production of oil and natural gas was 3.559 million barrels equivalent per day (MMboe / d), totaling 1.299 billion barrels of oil equivalent, an increase of 8.1% in relation to 2018. The State of Rio de Janeiro, where the Lula and Búzios fields are located, has been increasing... Continue Reading →
Jan 30, 2020 In 2016, the National Petroleum Agency (ANP) extended the concession contract for the Ubarana field until 2034. It is also there that Petrobras intends to install its first offshore wind project in the country, with a wind turbine tower, an anemometric tower and an electric-optical umbilical submarine cable approximately 1 km long,... Continue Reading →
Jan 29, 2020 Petrobras obtained from Ibama the license for the environmental regularization of drilled wells and the production activities of eleven fields in shallow waters in the Northeast, which the company is selling or has already sold. The measure, according to sources that accompany the negotiations, is essential for the company to be able... Continue Reading →
U.S. oil and gas producer Hess Corp said it would spend 11% more in 2020 compared with last year, betting heavily on its assets in offshore Guyana and the Bakken shale play. The company said its 2020 exploration and production capital and exploratory budget will be $3 billion, higher than the estimated $2.7 billion allocated... Continue Reading →
Investment in Colombia's oil industry is set to grow by 23% in 2020, the private oil producers association said on Monday, although production will be effectively flat, increasing just 0.5% compared with the previous year. Investment in the Andean country's oil and gas industry this year will jump to $4.97 billion, up from $4.03 billion... Continue Reading →
January 10, 2020 The National Petroleum Agency (ANP) has scheduled for 2020 to hold three auctions of oil exploration areas. The bids, still undefined, should take place in the second half of the year and will offer 871 exploratory blocks, mostly in permanent offer areas. The agency will hold a public hearing to receive contributions... Continue Reading →
Brazil Energy Insight 