05/06/2019 After negative repercussion in the market, Petrobras reviewed the result of the classification of the tender destined to the charter of one or more rigs for operation in 2 thousand m of water depth. The bidding committee released a review qualifying all the units offered in the tender and placing Constellation's Alpha Star semi-submersible... Continue Reading →

06/05/2019 Mero's submarine umbilicals may not have local content. In parallel to the bidding to contract steel lines (STU) for the field with a minimum requirement of 40%, Petrobras promotes a second process without nationalization requirement. The scope of the contract, which will last two years, provides for the acquisition of 59,350 km of umbilicals,... Continue Reading →

Oilfield technology firm Airborne Oil & Gas and engineering company Símeros Technologies have signed a collaboration agreement which aims to deliver the first qualified thermoplastic composite pipe (TCP) risers in the deepwater region Brazil. Last year, Airborne Oil & Gas started its TCP riser qualification program. The technology is believed to be a world first... Continue Reading →

Partners in the Liza Phase 2 Development Offshore Guyana – ExxonMobil and Hess – have made a final investment decision to proceed with the second phase of development of the Liza Field on the Stabroek Block, offshore Guyana following regulatory approvals. Liza Phase 2 will produce up to 220,000 barrels of oil per day and... Continue Reading →

Anadarko Petroleum has received a revised proposal from Occidental Petroleum under which Anadarko shareholders would receive $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock. Occidental’s revised proposal was received on Sunday, May 5, 2019. As disclosed previously, Anadarko entered into a definitive merger agreement with Chevron on... Continue Reading →

Oil production by Petroleo Brasileiro SA fell 3.5 percent in the first quarter from the same period a year before, according to Brazil’s oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages. In a statement, the regulator said the production declines were due to maintenance work and other interruptions... Continue Reading →

One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petroleo Brasileiro SA. Joao Braga and Marcos Peixoto, who manage 5 billion reais ($1.3 billion) at XP Asset Management, have increased their stake in Petrobras, as the company is known, making it the biggest holding of their XP Long Biased fund even... Continue Reading →

03/05/2019 Agency to launch public hearing for contributions on terms of conduct adjustment in closed exploration projects The ANP approved on Thursday (02/05) a public hearing for contributions to discuss local content conduct adjustment terms (TACs) in exploration and production contracts closed on August 10, 2018. The agency proposes that commitments be signed  only after... Continue Reading →

Apollo Global Management-backed investment firm Starboard Restructuring Partners is in exclusive talks with Petrobras to buy nine onshore oilfields for roughly 1 billion reais ($252 million), two sources familiar with the matter said this week. The Brazilian investment firm, in which Apollo has a 20% stake, has partnered with oil startup 3R Petroleum, aiming to... Continue Reading →