The auction of surplus volumes from the transfer of rights in the areas of Sépia and Atapu, in the Santos Basin pre-salt, represents, for the oil companies, immediate access to projects in the operational phase and may, depending on the results, attract two new producers. Among the eleven companies qualified for the round, scheduled for... Continue Reading →
PETROBRAS FORESEES A 70 EXPLORATION WELL DRILLING CAMPAIGN
(PetroleoHoje) Petrobras will invest US$ 5.5 billion in the Exploration segment in the five-year period 2022-2026, maintaining its focus on the Southeastern basins and on the Equatorial Margin. The figure represents only 10% of the total amount allocated to the E&P area of US$ 57.3 billion. Petrobras plans to drill 70 exploratory wells over the... Continue Reading →
Trelleborg to Deliver Bearing System for Mero 3 FPSO
Sweden-based engineering firm Trelleborg has won a contract to supply an integrated structural elastomeric bearing system for MISC Offshore's FPSO project in South America. Trelleborg said the FPSO would have a processing capacity of 180,000 barrels of oil and 12 million cubic meters of gas per day. These specs correspond to the FPSO MISC is building... Continue Reading →
Petrobras gives up on the sale and will invest R$ 5 billion to complete the Abreu e Lima Refinery
After a failed sale attempt, Petrobras no longer intends to divest of its refining asset in Pernambuco. The Abreu e Lima Refinery (Rnest) was included in the company's Strategic investment plan for 2022-2026. According to a statement from the company, more than R$ 5 billion (US$ 1 billion) will be invested in the completion of... Continue Reading →
Petrobras Awards Long-term Charters for Seadrill Drillship Duo
Offshore drilling company Seadrill has won two contracts with Brazil's Petrobras for the West Carina and West Tellus drillship. The two rigs will work on the Búzios field offshore Brazil. Both contracts have been signed on a 3-year fixed-term basis, with an expected start in September 2022. The total contract value for the two contracts... Continue Reading →
PETROBRAS ABANDONS DIVESTMENT OF THE MARLIN AND SERGIPE-ALAGOAS CLUSTERS
Petrobras divestment plan suffered a significant blow. The company decided that it will no longer sell 50% of the Marlim Cluster, which comprises of the Marlim, Voador, Marlim Leste and Marlim Sul fields, located predominantly in deep waters in the Campos Basin. “It is an asset that we have already managed to extend [the term... Continue Reading →
Brazil’s Petrobras boosts payouts and spending under new plan – analysts
(Reuters) - Brazilian state-run oil company Petrobras loosened its dividend policy and raised capital spending projections in a new five-year strategic plan unveiled late on Wednesday that was cheered by analysts and investors. In a securities filing, Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said it was ending its previous dividend policy, which... Continue Reading →
BRASFELS SHIPYARD STARTED MANUFACTURING MODULES FOR THE P-78 FPSO
The Brasfels shipyard, in Angra dos Reis (RJ), began manufacturing the production modules for the FPSO P-78, which will be installed in the Buzios field, in the Santos Basin. Altogether, ten modules will be built here in Brazil – out of a total of 21 – and the work should last around 20 months. The... Continue Reading →
Petrobras on enhancing the Shareholder Remuneration Policy
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held today, approved the revision of the Shareholder Remuneration Policy (Dividend Policy). The enhancement of the Dividend Policy has become important because of the anticipated achievement of the target of gross debt below US$ 60 billion in the 3rd quarter of... Continue Reading →
Brazil’s Petrobras raises investment plan to $68 bln, lowers 2022 production forecast
(Reuters) - Brazil's Petrobras (PETR4.SA) said on Wednesday it expects to invest $68 billion from 2022 to 2026, a sharp increase from its previous five-year plan, as the state-run oil company seeks to grow oil production from the subsea pre-salt area. The oil production forecast for next year fell slightly, however, with Petroleo Brasileiro SA, as the... Continue Reading →
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