March 12, 2019 The first oil of the Búzios V FPSO will delay another year. Petrobras postponed from 2021 to 2022 the start date of the Transfer of Rights assignment project in the Santos Basin pre-salt, originally planned for 2020. The delay was confirmed by the oil company, but was already taken for granted by... Continue Reading →
Shell inks contracts for two blocks offshore Colombia
Colombia’s regulator Agencia Nacional de Hidrocarburos (ANH) and Shell have signed exploration and production contracts for two blocks offshore Colombia. Officials from Shell and the country’s regulator on Monday, March 11 signed the exploration and production contracts for the “COL 3” and “GUA OFF 3” blocks in the Colombian Caribbean Sea with an investment commitment... Continue Reading →
Petrobras – Disinvestments in Shallow Water: Beginning of binding phase of Polo Rio Grande do Norte
Rio de Janeiro, March 11, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the Material Fact dated 07/28/2017 and Notice to the Market dated 10/4/2017, announces the beginning of the binding phase of the competitive process for the assignment of all exploration, development and production rights of Polo Grande do Norte, located in... Continue Reading →
Cade approves sale of Pasadena Refinery
Cade has approved Chevron's acquisition of the Pasadena Refinery, a deal announced by Petrobras at the end of January. The operation is valued at US $ 562 million, of which US $ 350 million is worth of shares and US $ 212 million of working capital with a base date of October 2018. The... Continue Reading →
Petrobras negotiates for R $ 1 billion sale of terrestrial fields in the NE to Starboard, private equity fund – Sources
March 10, 2019 Petrobras is closing an agreement with Starboard, a private equity firm specializing in asset restructuring, for the sale of a set of ten land-based fields in the Northeast. According to information from the newspaper "O Globo", the business is valued at about R $ 1 billion. Since 2017, Petrobras has put up... Continue Reading →
Petrobras concentrates efforts on pre-salt and becomes leaner
March 11, 2019 As the world's major oil companies diversify and expand their presence in the petrochemicals and renewables segments, Petrobras is moving towards becoming a less and less verticalized company. Owner of one of the industry's most coveted assets (the pre-salt), the state oil company focuses on oil and gas production and prepares an... Continue Reading →
Unmanned Survey Solutions Ready for New USV Launch
Unmanned Survey Solutions (USS) is set to launch a new Unmanned Surface Vessel (USV) designed for hydrographic surveys, at Ocean Business in April 2019. The Accession Class USV allows the vessel to increase its base design length of 3.5m to a maximum of 5.0m for additional payload equipment and/or power for extended endurance depending on... Continue Reading →
SeaBird Exploration sells Brazilian seismic data license
SeaBird Exploration, a marine seismic acquisition provider, has made a license sale of seismic data over the Rio Grande Rise in Brazil SeaBird said on Monday that its share of the sale was approximately $0.8 million. The license sale relates to assets which previously were written down to $0.2 million on the balance sheet. The... Continue Reading →
Hearing on Petrobras’ motion to vacate arbitration award issued in the Vantage case
Rio de Janeiro, March 8, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the Press Releases of 07/03/2018, 08/29/2018 and 02/7/2019, hereby informs that today the United States District Court for the Southern District of Texas heard oral argument on Petrobras’s motion to vacate the arbitral Award rendered against the Company and other... Continue Reading →
Petrobras Approves Resilience Plan
Rio de Janeiro, March 8, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that its Executive Board approved a Resilience Plan (Plan) meant to contribute to the maximization of value for shareholders and for Brazil. The Plan includes additional actions to 2019-2023 PNG and is consistent with the company's five strategic pillars: (a) maximization of... Continue Reading →
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