Brought to you by Quest Offshore & Southern Cone Consultants
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 →
Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up flat year-over-year oil and gas output and weakness in its refining and chemicals businesses. Oil companies last quarter suffered from weaker prices for their products, and in Exxon's case, it has been spending heavily to boost its oil... Continue Reading →
U.S. oil major Chevron slumped to a $6.6 billion quarterly loss compared to 4Q 2019 $3.7 billion profit, citing previously announced impairments on several projects. "Included in the [4Q 2019] were previously announced upstream impairments and write-offs totaling $10.4 billion associated with Appalachia shale, Kitimat LNG, Big Foot, and other projects,” Chevron said. 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 →
Increasing activity, led by scaled down, accelerated projects and subsea tiebacks is helping drive an increasing business in the subsea industry. But there’s slim chance of revisiting the boom days of 2013, the Society of Underwater Technology’s annual Global Subsea Market Outlook Business Breakfast heard this morning. Henning Bjørvik, an analyst in the Oilfield Service... Continue Reading →
The swollen number of orders felt in 2019 for floating production, storage and offloading vessels (FPSO) was, it turns out, well above the average number of yearly go-aheads seen in over the past 10 years, a new floater report says. Oil prices and a rush to kickstart industry and national wealth in developing countries appears... Continue Reading →
Mexico’s energy services provider Grupo R has signed an offshore drilling and logistics contract with compatriot Hokchi Energy, a subsidiary of Argentinean firm Pan American Energy. Grupo R said on Thursday that it would be using the Cantarell III jack-up rig to drill wells during the Hokchi field development campaign off the coast of the... 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 →
Norway’s Equinor has entered into Front End Engineering and Design (FEED) contracts with early commitments and pre-investments for phase 1 of the Bacalhau (formerly Carcará) area in Brazil. Contractors have been selected for both the SURF (Subsea, Umbilical, Risers and Flowlines) and the FPSO (Floating Production, Storage and Offloading) contracts, Equinor said on Thursday. Subsea... Continue Reading →
Brazil Energy Insight 