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August 14, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 06/18/2018, informs that it signed today with SPE Fazenda Belém S.A., a wholly-owned subsidiary of 3R Petroleum e Participações S.A., a contract for the sale of its entire interest in the onshore fields of Fazenda Belém and Icapuí, called Fazenda... Continue Reading →
Aug 14, 2020 The ANP board approved the extension of four more contracts for mature onshore oil and gas fields: Massapê, Cantagalo, Fazenda Azevedo and Fazenda Boa Esperança. Thus, there are already 34 mature fields with extended contracts (21 offshore and 13 onshore), which will generate more than US $ 28 billion in new investments,... Continue Reading →
Dutch floating production solutions provider SBM Offshore has ordered equipment from Malaysia's KNM to be installed on an FPSO destined for ExxonMobil's Guyana operations. Bursa Malaysia-listed KNM said SBM Offshore had on Thursday ordered PME pressure vessel separators worth around $4 million. KNM said that the equipment would be delivered by its subsidiary KNM Process... Continue Reading →
A Maersk Drilling-owned drillship is expected to restart operations in Africa for French oil major Total following a suspension of the contract, which started at the end of April. According to Maersk Drilling’s latest fleet status report, Total suspended its contract for the Maersk Voyager drillship with effect from 29 April 2020. Continue reading
Russia's largest oil producer Rosneft made a second-quarter profit of 43 billion roubles after reporting a loss in the previous three months thanks to a rise in oil prices, it said on Friday. Rosneft, headed by Igor Sechin, a long-standing ally of President Vladimir Putin, is the first big Russian oil company to report financial... Continue Reading →
Aug 13, 2020 ANP started to make available the list of oil and gas exploration and production contracts whose operating companies requested an extension of exploratory terms due to the Covid-19 pandemic, as well as the status of each order. Until Aug 11, 2020, 48 expressions of interest were received from 12 operators, of which... Continue Reading →
Aug 12, 2020 The three contracts under production sharing regime - Mero Development Area, Entorno de Sapinhoá and Sudoeste de Tartaruga Verde - produced 9.3 million barrels of oil and 51 million cubic meters of natural gas (available for sale) in the first semester of 2020. The data are part of the Monthly Bulletin of... Continue Reading →
Calmer political waters should help turn the country into a global exploration hotspot The small Latin American nation of Suriname is poised for profound change. Revenues from major offshore oil discoveries announced this year could transform the country’s long-term economic prospects. And, following the resolution of an election deadlock, a new coalition government has finally... Continue Reading →
Occidental Petroleum booked a total impairment of $6.6 billion for the second quarter after the collapse in energy prices reduced the value of several of its assets. The shares fell as much as 3.3% in after-market trading in New York. Continue reading
Aug 12, 2020 Petrobras management is promising the supply chain to share a series of technical details about its new pre-salt exploration and production projects earlier. The information was provided by the company's executive director of Production Development, Rudimar Lorenzatto, who participated in a webinar promoted by SPE Brasil. The executive stated that the sooner... Continue Reading →
Brazil Energy Insight 