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(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) expects to do exploratory drilling next year near the mouth of the Amazon River, along the coast of the state of Amapa, Chief Executive Jean Paul Prates said. The region is part of Brazil's Equatorial Margin, an area that Petrobras considers its most promising new frontier for oil and... Continue Reading →
SBM Offshore is pleased to announce it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Whiptail development project in Guyana. Following FEED and subject to government approvals in Guyana of the development plan, project sanction including final investment decision by... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil is in the process of expanding its footprint in the U.S. even further, thanks to a definitive agreement to acquire Pioneer Natural Resources in an all-stock transaction, which has an implied total enterprise value, including net debt, of approximately $64.5 billion. The oil major believes that this deal will strengthen the... Continue Reading →
(Reuters) Angola's largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said on Thursday, in a boost to the country's plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni and BP formed last year when the... Continue Reading →
(OET) Brazilian oil and gas player Enauta has changed the timeline for the restart of production from a floating, production, storage, and offloading (FPSO) vessel, which is working on a field off Brazil. This FPSO is now anticipated to come back online by November 2023. Originally, the production was expected to resume by early September... Continue Reading →
(Reuters) Italy's Eni hopes to reach a final investment decision on its second floating liquefied natural gas (LNG) project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday. Its first LNG project - called Coral Sul - made the impoverished African country a global producer... Continue Reading →
(TN) ANP released the Monthly Oil and Natural Gas Production Bulletin for August 2023, which provides consolidated data on national production. Total production (oil + natural gas) was 4.392 million barrels of oil equivalent per day (MMboe/d). Regarding oil, 3.462 million barrels per day (MMbbl/d) were extracted, a reduction of 1.4% compared to the previous... Continue Reading →
(Reuters) U.S. oil producers ExxonMobil and Hess Corp have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. Kaieteur, at 3.3... Continue Reading →
(OE) Offshore development of new gas assets has been identified as a key piece to Colombia’s long-term energy security, but significant challenges remain. The size, production capability, and required infrastructure investments all make the situation uncertain, energy industry intelligence group Wood Mackenzie has found. According to Wood Mackenzie, the development of recent offshore gas discoveries... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it signed a memorandum of understanding with Vale today for the development of low-carbon solutions, taking advantage of the technical expertise and synergies of the two companies. The partnership will last for two years and will assess joint decarbonization opportunities, including the development of sustainable fuel initiatives -... Continue Reading →
Brazil Energy Insight 