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Jan. 15 (OE) MODEC has commissioned Everllence to supply five compressor trains for its new Floating Production Storage and Offloading (FPSO) for the Gato do Mato - Orca Project offshore Brazil. The FPSO will be moored in the pre-salt area of the Santos Basin, approximately 200 kilometers south of Rio de Janeiro, at a water... Continue Reading →
Jan. 14 (OE) Eco (Atlantic) Oil & Gas has started discussions with the Government of Guyana regarding the continuation of its appraisal and exploration program on the offshore Orinduik Block, following the expiry of the license’s second renewal term. The Orinduik license reached the end of its second renewal term on January 14, 2026. Eco... Continue Reading →
Jan. 14 - The Tupi/Iracema field, located in the pre-salt layer of the Santos Basin, reached a production of 1 million barrels/day this Friday (January 9th), repeating the historic mark first achieved in 2019. This result aligns with Petrobras' new 2026-30 Business Plan, which foresees an increase in oil and gas production through the management... Continue Reading →
Jan. 13 (oilnow.gy) Guyana is preparing for its next major step in offshore oil production with the Uaru development, ExxonMobil’s upcoming project in the Stabroek Block. Rather than opening a new frontier, Uaru deepens production in an already proven basin. The project is built around scale. More than 800 million barrels of recoverable oil are... Continue Reading →
Jan. 13 (oilprice.com) Last year, upstream oil investment was projected to have declined 2.5% Y/Y to $420 billion after low oil prices put pressure on producers and slowed expansion plans. Companies across the industry continued to prioritize profitability, free cash flow, and debt reduction over aggressive production growth, a trend reinforced by macro uncertainty. The decline was... Continue Reading →
Jan. 13 (OE) Energy services firm EnerMech has secured a subsea pre-commissioning services contract by Saipem for the Whiptail development, offshore Guyana in the Stabroek Block, operated by ExxonMobil Guyana. The contract award marks EnerMech’s first project on the Whiptail field and builds on its proven track record supporting subsea pre-commissioning campaigns offshore Guyana, including... Continue Reading →
Jan 12 - Rio de Janeiro has taken a decisive step towards energy transition by approving a public policy specifically aimed at developing offshore wind energy. The new legislation establishes guidelines for the orderly use of maritime space and creates a favorable environment for attracting investments, generating skilled jobs, and strengthening the maritime economy. Regulatory... Continue Reading →
Jan. 12 (OE) Navitas Petroleum has signed a non-binding agreement to farm into an offshore exploration license in the North Falklands Basin adjacent to its recently sanctioned Sea Lion oil development, as the operator advances plans to expand its footprint in the region. Eco (Atlantic) Oil & Gas said Navitas has entered into a non-binding... Continue Reading →
Jan. 12 (Reuters) U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela - a move that would weaken the oil market, cut revenues and hurt industry at home. Trump has enacted policies that he says would unleash American energy and... Continue Reading →
Jan. 11 (OE) French tubular solutions supplier Vallourec has secured a significant contract with Shell for oil and gas project offshore Brazil. The agreement covers the supply of oil country tubular goods (OCTG) products and services for Shell’s offshore operations in the development of the Orca project, formerly known as Gato do Mato. The expected... Continue Reading →
Brazil Energy Insight 