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Nov 1, 2019 Petrobras is due to start production in Sergipe's deepwater in December when it intends to test the Farfan reservoir, one of the discoveries made in the region. The plan foresees the installation of FPSO Cidade de São Vicente, connected to a production well. It took longer than expected to complete cleaning of... Continue Reading →
November 1, 2019 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser) regarding the sale of its interest in 15 onshore exploratory blocks, located in the Sergipe-Alagoas Basin. The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is... Continue Reading →
November 1, 2019 Petróleo Brasileiro S.A. - Petrobras, following on the press release issued on 08/08/2019, reports that its subsidiary Petrobras Biocombustíveis S.A. (“PBIO”) completed today the sale of its 50% stake in Belem Bioenergia Brasil (“BBB”) to Galp Bioenergy B.V. (“Galp”), which holds the other 50% stake in the company. BBB was established in... Continue Reading →
Oct 31, 2019 Petrobras plans to conclude in the first half of 2020 a benchmark project for hiring future FPSOs, seeking to reduce costs, deadlines and increase project quality, Rudimar Lorenzatto, Executive Director of Production & Technology Development said on Tuesday. The main change will be a reduction in the management of interfaces between the... Continue Reading →
Brazil’s Petrobras aspires to reduce the amount of time from oil discovery to first production at its deepwater fields by almost 50% by 2029, while exploring ways to skip the exploratory drilling phased, an executive said on Wednesday. Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, wants to cut the period of time... Continue Reading →
Oct 31, 2019 Brazilian oil company Petrobras has reportedly managed to sell the ultra-deepwater drillship Vitoria 10000 after its first auction received no bids. According to the Norwegian rig broker Bassoe Offshore, the drillship was sold earlier this week for around $15 million. “The second auction for the Petrobras-owned drillship, Vitoria 10000, the highest bid... Continue Reading →
October 31, 2019 Petróleo Brasileiro S.A. – Petrobras in addition to the press release issued on October 23, 2019, reports that the signing of the Amendment to the Transfer of Rights Agreement was postponed for tomorrow, November 1, 2019. The new signing date was approved by the company's Board of Directors, as it complies with... Continue Reading →
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country’s crude. The proliferation of niche players, ranging from private equity firms to domestic and international... Continue Reading →
Repsol Sinopec Brasil considers the terms of the country’s huge “transfer-of-rights” oil auction next week unattractive, which is a main reason it is not among the 14 firms registered for a chance to bid, the firm’s top Brazil executive said on Tuesday. Asked on the sidelines of Rio de Janeiro’s Offshore Technology Conference if the... Continue Reading →
When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in a tight electoral race... Continue Reading →
Brazil Energy Insight 