Oslo-listed FPSO operator BW Offshore is contemplating to enter into agreements to acquire 100% of the Maromba field offshore Brazil from the present owners Petrobras (70%) and Chevron (30%). BW Offshore said on Monday that the closing of the acquisition is subject to board approvals and fulfillment or waiver of conditions precedents, including approval by... Continue Reading →
Sale of onshore fields – Lagoa Parda Cluster: Start of the binding phase
Rio de Janeiro, March 1, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 12/10/2018, announces the beginning of the binding phase related to the sale of its entire equity share in three onshore production fields (Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha), located in the state of Espírito... Continue Reading →
Petrobras prepares for mega auction of the Transfer of Rights surplus
Petrobras intends to use the billions of reais it will receive by renegotiating the Transfer of Rights agreement to buy new assets in the surplus auction of the same. The president of the company, Roberto Castello Branco, said yesterday that he does not have the resources to de-lever the company and that the oil... Continue Reading →
Ensco revenues hit by lower utilization, dayrate decline
Offshore driller Ensco managed to take the edge off some of its quarterly loss but remained in the red with decreased revenues ahead of its merger with Rowan. Ensco’s revenues were impacted by lower floater utilization and dayrate decline. In one of its last quarters as Ensco before it merges with Rowan, Ensco recorded a... Continue Reading →
Subsea 7 Authorises $200M Share Repurchase
Subsea 7 Board of Directors authorised a new share repurchase programme of up to USD 200 million. The share repurchases are to be carried out within two years and the repurchased shares will be held in treasury and will be cancelled or used to fulfill obligations under Subsea 7’s employee share-based payment schemes. Shares will... Continue Reading →
Defined rules and date of the Transfer of Rights Surplus auction
February 28, 2019 The CNPE sets forth the first bidding guidelines for excess volume, establishing payment of compensation to Petrobras by the winners The auction of the Transfer of Rights surplus will be held on October 28, providing for the payment to Petrobras, by the winning companies, of a value to offset the investments already... Continue Reading →
The Energy Research Company sees space for five new refineries
The Energy Research Company (EPE) presented a study showing the feasibility of implementing five small refineries in the country, that is, units with processing capacity between 5,000 b / d 20 thousand b / d. According to the survey, the region indicated for the installation of the plants would be the Northeast, which, even... Continue Reading →
Brazil to offer areas with ‘significant’ oil volumes in October – Transfer of Rights
The Brazilian government will offer in an auction in October production sharing contracts for companies to explore areas that it says hold “significant volumes of oil and gas”, the country’s energy council CNPE said on Thursday. After a meeting in Brasilia, CNPE decided on some rules for the auction that will offer extra oil from... Continue Reading →
After four years of losses, Petrobras returns to profit
After four consecutive years of loss, the state company reported a net profit of R $ 25.8 billion in 2018, the highest in seven years and the first since corruption schemes in the state became the target of Operation Lava-Jato. In announcing its results on Wednesday, the state company attributed the return of its... Continue Reading →
ExxonMobil licenses 11 deepwater wells in Sergipe-Alagoas Basin
February 28, 2019 ExxonMobil began licensing 11 exploratory wells in areas of the 13th, 14th and 15th ANP bidding rounds when the company acquired the SEAL-M-351, SEAL-M- 428, SEAL-M-430, SEAL-M-501, SEAL-M-503, SEAL-M-573. The nearest well to the coast is 67 km from the town of Brejo Grande, in Sergipe. The company divided the logistics of... Continue Reading →
