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Norwegian offshore seismic data firm TGS has completed an additional phase of the Santos Basin 3D Multi-Client seismic survey in Brazil. "The survey is located south of the high-profile discoveries in the Santos Basin and the recent sought-after blocks offered in Rounds 15 and 16. The acquisition of 17,500 square kilometers of the 23,000 square... Continue Reading →
BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy, it said on Monday. Looney told employees in a global online call that the London-based company will cut 10,000 jobs from the... Continue Reading →
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards... Continue Reading →
Jun 5, 2020 Important news for the oil and gas sector from Brasilia. The National Energy Policy Council (CNPE) approved incentives for small and medium-sized companies in the exploration, development and production of oil and natural gas. The collegiate also gave the approval for the National Petroleum Agency (ANP) to define and bid blocks... Continue Reading →
Oilfield services company Wood has pledged to reduce its greenhouse gas emissions by 40 per cent by 2030. Wood said on Friday that this science-based target was focused on reducing its scope 1 and 2 greenhouse gas emissions. This absolute reduction target is set using 2019 figures as a baseline which currently stands at 179,587... Continue Reading →
Mexico’s Grupo R has received an early termination of a drilling contract with Hokchi Energy due to the current market situation. Hokchi Energy, a subsidiary of Argentinean firm Pan American Energy, signed an offshore drilling and logistics contract with Grupo R back in late January 2020. Continue reading
Italian oil major Eni said on Thursday it was creating a division to focus on renewable energy, as part of a corporate reorganization. The overhaul, which Reuters reported on Wednesday, follows industry-wide upheaval as the coronavirus pandemic has disrupted oil markets and sapped the earnings of oil and gas companies. Continue reading
June 2, 2020 Despite the economic crisis resulting from the coronavirus pandemic, Anglo-Dutch Shell and its partners decided to keep US $ 700 million in investments to set up a thermoelectric plant powered by natural gas from the pre-salt layer in Macaé, in the North of the State of Rio de Janeiro. The plant will... Continue Reading →
Jun 3, 2020 Petrobras will sell the gas fields Pescada-Arabaiana production project, located in the shallow waters of the Potiguar Basin. The oil company is about to conclude direct negotiations with Ouro Preto, current partner in the project, to sell its 65% stake in the asset located in the Rio Grande do Norte shallow waters,... Continue Reading →
Jun 3, 2020 Total is testing a new oil transfer system (offloading) using a CTV type vessel (Cargo Transfer Vessel) in the Lapa field, in the Santos Basin pre-salt. The goal is to analyze the integration and functionality of the CTV, the Sealoader-1, in oil transfer operations. Oil company may extend contract for specialized vessel... Continue Reading →
Brazil Energy Insight 