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July 26, 2019 FPSO P-68 is expected to leave Jurong Shipyard in Aracruz (ES) only in late September or early October. The initial forecast was that the five-day trip to the Berbigão field would start on the 24th, but delays in the construction forced the revision of the schedule. Among the reasons for the postponement... Continue Reading →
Brazil’s state-run oil firm Petroleo Brasileiro SA cut its 2019 production target, sending its shares lower on concerns about how quickly the firm will be able to ramp up production. Petrobras, as the firm is known, now expects output to average 2.7 million barrels of oil equivalent per day (boepd), in line with 2018, scrapping... Continue Reading →
July 25, 2019 Bidding conducted under the reverse auction system is postponed and remains undefined. Almost six months after the original receipt of the proposals, Petrobras' bid for the chartering of up to three anchored rigs remains open. Lot 1 - geared to two units for 750 m of water depth - had its commercial... Continue Reading →
July 25, 2019 The ANP approved the revision of the Pitu well discovery discovery plan (PAD) 1-BRSA-1205-RNS, called Pitu, in the POT-M-853 and 855 deepwater blocks of the Potiguar Basin. The asset exploration phase, which would end on the 15th, was extended to August 2020, while the discovery evaluation period was also extended by one... Continue Reading →
July 25th, 2019 We had a solid operating performance in 2Q19, especially in the pre-salt fields, which accounted for 57% of our oil production. In May, we completed ten years of pre-salt production in the Santos Basin, with efficiency and productivity indicators above the offshore industries average. In just one decade, the accumulated operated production... Continue Reading →
July 25, 2019 -Petróleo Brasileiro S.A. – Petrobras, pursuant to article 24 of CVM Instruction 400 of December 29, 2003, as amended, reports that today the overallotment option (“Greenshoe Option”) was fully exercised under the secondary public offering of shares issued by Petrobras Distribuidora SA (“BR”) and held by Petrobras. With the exercise of the... Continue Reading →
Brazilian oil company Petrobras is seeking to auction off a 2010-built ultra-deepwater drillship. The company is planning to sell the Vitoria 10000 drillship via an international electronic auction in September. The Vitoria 10000 is a sixth-generation drillship built by Samsung, under the Samsung 10000 design. The rig – initially owned by Schahin – later renamed to... Continue Reading →
July 25, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/08/2019, announces the beginning of the non-binding phase related to the sale of all its stakes in four onshore fields, located in Bahia, jointly known as Tucano Sul Cluster. Parties qualified for this phase will receive instructions on the divestment process,... Continue Reading →
July 25, 2019 Petróleo Brasileiro S.A. - Petrobras reports that it received this week R$ 425 million as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s Office. Thus, the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds R$ 4 billion.... Continue Reading →
July 24, 2019 Petrobras is expected to start drilling a well in the Sagitario prospectus next quarter, Repsol said in its financial report released Wednesday. The initial forecast was that the activity would take place in the second quarter, but the schedule was postponed. Sagitario was awarded in the seventh round of ANP bids to... Continue Reading →
Brazil Energy Insight 