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(OET) UK-headquartered oil and gas company Tullow Oil has set the wheels in motion to sell its entire interest in Tullow Guyana (TGBV), which includes the Orinduik licence, to Eco Guyana Oil and Gas (Barbados) Limited, a subsidiary of Eco (Atlantic) Oil & Gas, in exchange for a combination of upfront cash and contingent consideration.... Continue Reading →
(ON) Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic Commission for Latin America and the Caribbean (ECLAC) report. The pre-salt is a sequence of... Continue Reading →
(OE) Offshore drilling rig service and inspection firm ModuSpec has won a contract to support the intake of a stranded new-build jack-up drilling rig. The jack-up was originally constructed in 2020 in Singapore and has remained stranded in the construction yard following the market crash and global pandemic, ModuSpec said. As the upstream oil &... Continue Reading →
(Reuters) Russia's largest producer of liquefied natural gas (LNG) Novatek last year offered technology to build a plant to produce the gas from Argentina's Vaca Muerta field, a highly-placed source familiar with the proposal said, though the talks have since broken off. The source said that Novatek proposed to help implement Argentina's plans to build... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in addition to the Material Fact of May 19, 2023, informs its investors and the market in general that, on June 7, 2023, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) approved the transfer of the entire stake (100%) of Petróleo Brasileiro S.A.... Continue Reading →
(OET) Challenger Energy Group (CEG), the Isle of Man-headquartered oil and gas company focused on the Caribbean and Americas, has bid for and expects to be awarded a shallow water exploration block located off Uruguay. This is the sole remaining available block offshore Uruguay, as all other offshore exploration licences are held by energy majors: Shell and Apache... Continue Reading →
(OET) Challenger Energy Group, the Isle of Man-headquartered oil and gas company focused on the Caribbean and Americas, has started a farm-out process for a shallow water exploration block located offshore Uruguay, which has already attracted attention from several oil companies. Challenger Energy was awarded the AREA OFF-1 block in May 2020 by Uruguay’s state-owned oil and gas... Continue Reading →
(Reuters) A unit of Mexico's Grupo Carso, controlled by the family of Mexican billionaire Carlos Slim, said on Thursday it has purchased a minority stake in Talos Energy Mexico for $124.75 million to obtain a portion of the offshore Zama oil project. The acquisition needs approval of Mexican regulators, Carso said in its statement. The... Continue Reading →
Exclusive article from TN Magazine The oil industry's activity resembles a moving bicycle. Without new impulses, the activity remains for a while, but tends to gradually decline and eventually cease. In the oil sector, these impulses can be given in two ways: with the exploration of new areas; or with investments in existing fields to... Continue Reading →
(epbr) Despite Ibama's veto of the environmental license for drilling a Petrobras well in deep waters in the Foz do Amazonas Basin this week, activities in the region are not unprecedented. According to public data from the National Petroleum Agency (ANP), Foz has already had 95 drillings — all have occurred in shallow waters. Practically... Continue Reading →
Brazil Energy Insight 