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February 19, 2019 According to an executive of the JV with Petrobras, goal is to increase the recovery factor of the largest field in the country Petrobras should drill at least ten new wells in the Lula field, in the Santos Basin, said Galp's Upstream Operations director, Thore E. Kristiansen, during a conference with analysts... Continue Reading →
FEB 18, 2020 Drilling and seabed mapping activities aim to evaluate discoveries in ultra-deep waters The ANP approved the extension of the execution period of the plans for evaluating the discoveries (PADs) of Quindim and Brigadeiro, in block ES-M-525, operated by Petrobras, in the Espírito Santo Basin. The extension was necessary to carry out the... Continue Reading →
Significant cost reductions have improved E&P cashflows and should drive increased offshore tendering activity in 2020 with pricing expected to remain competitive, according to market research provider Westwood Global Energy Group. Westwood said on Thursday that contractors would need to remain focussed on profitability and avoid being locked into low-margin purgatory. The company identified that... Continue Reading →
February 14, 2020 In partnership with BP and Equinor, company prepares first production sharing well in the basin In March, Petrobras plans to start drilling the first exploratory well in Dois Irmãos, in the Campos Basin pre-salt. The location of the well, in the area purchased in the 4th Round of Sharing, has already been... Continue Reading →
February 11, 2020 Petróleo Brasileiro S.A. – Petrobras informs about a favorable arbitration award to the company, which rejected a claim made by an investor in Sete Brasil Participações S.A. (in reorganization), in arbitration proceedings seeking compensation from Petrobras for alleged damages related to their investment in the Sondas Project. Due to the favorable outcome... Continue Reading →
Brazil's Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday. In a securities filing, Petroleo Brasileiro SA, as the company is formally known, said... Continue Reading →
Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
February 10th, 2019 After several years of stagnation, we have delivered an excellent operating performance. Reaching daily, quarterly and annual oil and gas production records. In 4Q19, oil and gas production reached 3.025 million barrels of oil equivalent per day (MMboed), which represents a new landmark in Petrobras history, as we break through the 3.0... Continue Reading →
February 07, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of all its equity stake in its Nitrogen Fertilizer Unit III (UFN-III ). The teasers, which contain key information about the asset, as well as the eligibility criteria for selection of potential participants,... Continue Reading →
February 10, 2020 Total plans to drill in block CM-541, in the Campos Basin pre-salt, between the end of this year and the beginning of 2021, informed the company's E&P director, Arnaud Breuillac, during a conference call with analysts last Thursday (6/2). According to the company, there are two “giant world-class” prospects in the asset,... Continue Reading →
Brazil Energy Insight 