(PetroleoHoje) 3R Petroleum must submit new development plans (PDs) to reduce royalties and/or extend contracts for newly acquired fields within one year after approval of the Annual Work Programs (PAT), Annual Production Programs (PAD) and Annual Reserve Bulletins (BAR) by the ANP. In an official letter to the agency, the company proposed the presentation of... Continue Reading →
Electrical failure reduced production at five oil blocks -Petroecuador
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that production at five of its blocks was reduced by some 31,000 barrels because of an electrical failure in the country's Amazon region. The failure occurred on Thursday at a substation run by the state electrical company, leaving areas of Sucumbios and Orellana provinces -... Continue Reading →
Petrobras increases oil exports from Buzios to China
Petrobras is expected to export more oil from Buzios to China in the coming months, while it reserves Tupi oil for the domestic market, reveals consultancy Platts. According to the company, Petrobras sources say that the oil company has been channeling more volumes of Tupi into its own system in recent months, while focusing on... Continue Reading →
TotalEnergies Drilling World’s Deepest Offshore Well Using Maersk Voyager Drillship
French oil major TotalEnergies has exercised an option for Maersk Drilling's drillship Maersk Voyager to drill the ultra-deepwater Ondjaba-1 exploration well in Angola’s Block 48. The contract extension has an estimated duration of 54 days, which means that Maersk Voyager is now contracted until February 2022. The work on Ondjaba-1 began in October 2021, after... Continue Reading →
How to Ensure Oil & Gas Infrastructure Still Has Value
(OE) By David Linden Head of Energy Transition at Westwood Global Energy Group If we want to reach net zero by 2050, there is an increasingly high risk that some of the oil and gas infrastructure investments (i.e. in platforms, pipelines, processors, storage sites etc) made today will result in stranded assets. In other words,... Continue Reading →
Occidental sells stakes in two Ghana fields for $750 million
Houston-based Occidental has agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy ($550 million) and Ghana National Petroleum Corporation (GNPC) ($200 million). The sale to Kosmos closed upon signing and the sale to GNPC is expected to close in the fourth quarter of 2021. The transaction includes Occidental’s... Continue Reading →
Aker Solutions, DeepOcean, and Solstad Offshore in Offshore Wind Services Pact
Offshore energy industry service providers Aker Solutions, DeepOcean, and Solstad Offshore have formed Windstaller Alliance, focused on offshore wind services. "The new partnership aims to provide the world’s most cost-efficient and complete product supply, fabrication, and marine services offering within offshore wind. The alliance will also pursue other offshore renewables segments," the companies said Thursday.The... Continue Reading →
Shearwater Starts 4D Survey for TotalEnergies Offshore Angola
Marine seismic services firm Shearwater GeoServices has kicked off a 4D monitor survey for TotalEnergies' Angolan subsidiary Total E&P Angola. The survey comprises a two-month Wide Azimuth Towed Streamer (WATS) 4D monitor survey in the Louro-Mostarda Development areas of Block 32. T Shearwater's Amazon Conqueror, equipped with the Isometrix multi-component streamer system will be used... Continue Reading →
Petrobras on Bahia Terra Cluster divestment
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news in the media about the sale of onshore production fields, located in the Recôncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra Cluster, clarifies that it has received binding offers from potential interested parties in the acquisition of the assets.The... Continue Reading →
Suriname state oil firm, Chevron sign offshore oil output sharing contract
(Reuters) - Suriname state oil company Staatsolie on Wednesday said it had signed a 30-year production sharing contract with U.S. producer Chevron Corp (CVX.N) for the South American country's offshore Block 5. Chevron Exploration Suriname Ltd and a consortium by TotalEnergies and Qatar Petroleum (QATPE.UL) in June submitted favorable bids for shallow-water exploration in Blocks 5, 6... Continue Reading →
Brazil Energy Insight 