Brought to you by Quest Offshore & Southern Cone Consultants
Oil majors Chevron and Shell have worked out a farm-out agreement for Block 5, located offshore Suriname. Suriname’s national oil company Staatsolie revealed on Friday that Chevron Exploration Suriname Limited (CESL), a subsidiary of Chevron, transferred to Shell one-third (20 per cent) of its 60 per cent equity interest in the block for which it has... Continue Reading →
(Reuters) - A unit of U.S. oil producer Chevron Corp (CVX.N) on Friday transferred one-third of its 60%-equity interest in an offshore Suriname block for which it has a production sharing agreement to a unit of Royal Dutch Shell (RDSa.L), Suriname's state oil company said. Paradise Oil Company, a subsidiary of Suriname's state-run Staatsolie, retains its 40% stake... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
(Offshore) Wood Mackenzie’s Global Upstream Outlook 2022 predicts a 9% increase in investments next year to more than $400 billion. The consultants expect more than 40 projects with resources of more than 50 MMboe to be sanctioned, with low-breakeven, low-carbon deepwater projects dominating greenfield final investment decisions. Fraser McKay, vice president upstream research, said: “Companies will allocate... Continue Reading →
Energy intelligence provider Wood Mackenzie, a Verisk business, believes that the oil and gas sector will continue to rebound in 2022, but the positive outlook will be tempered by concerns about its future. In its Global Upstream Outlook 2022, Wood Mackenzie points out the upstream industry must respond to the implications of the pledges made at COP26 and... Continue Reading →
TotalEnergies EP Brasil will have a new General Director as of December. The Brazilian subsidiary will be headed by Charles Fernandes, who occupied the same position in the Netherlands. Philippe Blanchard, General Director in Brazil since 2018, will assume the direction of TotalEnergies Suriname. Charles is Brazilian and started his career at the French company... Continue Reading →
Suriname has been described as the next big thing in the offshore oil and gas exploration world, as its proximity to Guyana where ExxonMobil has discovered around 10 billion barrels of oil so far has led oil companies, including ExxonMobil, to hope there's similar riches to be found in the Surinamese waters, too. However, while the... Continue Reading →
French energy major TotalEnergies and its partner APA Corporation have recently completed a flow test at an appraisal well in Block 58 offshore Suriname, confirming an excellent quality black oil reservoir, but failed to find commercial hydrocarbons at the latest exploration well there. However, success at their next planned exploration well on the block could... Continue Reading →
Offshore drilling companies Maersk Drilling and Noble Corp. last week announced they'd merge to form one of the world's largest offshore oil drilling rig companies. Westwood Energy's Terry Childs analyzes the proposed deal and how the combined Maersk/Noble drilling rig fleet stacks up against those of its rivals. The announcement of the merger of Maersk Drilling and... Continue Reading →
A consortium of TGS, CGG and BGP has commenced the acquisition for Phase 1 of the Suriname 3D project. Last month, the seismic trio signed a multi-client agreement with Suriname’s national oil company Staatsolie for multi-client seismic programs. The new seismic data from the consortium’s multi-client programs will be instrumental in accurately delineating the prospectivity and potential of this... Continue Reading →
Brazil Energy Insight 