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Oct 7 (Reuters) - Drilling and fracking activity in Argentina's Vaca Muerta, the world's fourth-largest unconventional oil reserve, is plateauing due to lower oil prices and rising costs, a slowdown that could complicate the political agenda of libertarian President Javier Milei. The huge Vaca Muerta formation in western Argentina accounts for 64% of the country's... Continue Reading →
Oct. 7 - Petrobras announced promising results in its drilling program in the Campos Basin. The company notified the National Petroleum Agency (ANP) about the discovery of oil traces in the Agua Marinha block, in well 1-BRSA-1401DA-RJS, in a water depth of 2,601 meters, drilled by the Deepwater Aquila drillship in July. The Agua Marinha... Continue Reading →
Oct. 6 - PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of September. Key: (1) At the Polvo and Tubarão Martelo cluster, the workover of TBMT-6H well was completed on September 15, and the well returned to production. (2) At... Continue Reading →
Oct. 7 (OE) Norway-based subsea well intervention and installation services company AKOFS Offshore has signed a firm contract with Petrobras, for its subsea equipment support vessel AKOFS Santos, which will continue to operate offshore Brazil. Following a competitive tender process, the vessel will continue to perform services as a multi-purpose supply vessel (MPSV) for Petrobras... Continue Reading →
Oct 6 (Reuters) - Colombian state-run oil company Ecopetrol is set to launch the bidding process later this month for a regasification project at its Covenas maritime terminal in the north of the country, CEO Ricardo Roa said on Monday. Ecopetrol will begin accepting binding bids for the project on October 14, with a winner expected... Continue Reading →
Oct. 6 - MODEC has held a first steel-cutting ceremony for the Gato do Mato floating production, storage and offloading (FPSO) unit, which will be deployed at Shell’s field offshore Brazil. The ceremony was held at the COSCO Qidong Shipyard, marking the start of construction of the the aft block of next-generation hull for the... Continue Reading →
Oct. 6 (Reuters) Petrobras is expected to open bids for the contracting of two FPSOs for the Sergipe Deep Waters Project (Seap) on October 15, Renata Baruzzi, Executive Director of Engineering, Technology, and Innovation, said. "The bidders asked for more time. We gave them another 15 days," the director told reporters. Baruzzi also explained that... Continue Reading →
Oct. 6 (OE) Subsea robotics firm Forum Energy Technologies (FET) has secured a contract with long-term client DOF for the delivery of a work-class remotely operated vehicle (ROV) and supporting tether management system. The equipment will support extensive subsea operations in Brazil conducted by DOF, which operates one of the largest fleets of FET XLX... Continue Reading →
Oct 3 (Reuters) - J&F Investimentos SA, the holding company owned by Brazil's billionaire Batista brothers, is in talks to acquire French utility EDF's Rio de Janeiro thermal plant, according to two people familiar with the matter. The deal, which could fetch up to 2 billion reais ($374 million) according to one of the sources,... Continue Reading →
Oct. 3 (offshorte-energy.biz) The production mode at two oil-producing assets off the coast of Brazil is weeks away from being switched off, enabling operators to undertake planned maintenance activities in their chosen Campos Basin fields. South America’s Brava Energia has revealed that the output from its Papa-Terra field in the Campos Basin will be halted for up... Continue Reading →
Brazil Energy Insight 