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1/21/19 New pre-salt reservoirs may be waiting for the industry beyond the limits of Brazil's Exclusive Economic Zone (EEZ). João Correa, country manager of Spectrum, said as they are conducting a 3D seismic campaign in international waters, in the Santos Basin, in partnership with TGS. "We see an absurd potential, equivalent to Sapinhoá and Peroba.... Continue Reading →
1/21/19 PetroRio signed with BW Offshore a one-year extension of the FPSO contract for lease and operation in the Polvo field. The contract will be valid through the third quarter of 2020, with options to remain in force until 2022. Production and assets PetroRio produced 13,356 bopd / day in December, an increase of 3%... Continue Reading →
Schlumberger has bounced back in black in the fourth quarter of 2018, against last year’s Q4 loss of $2.25 billion that was booked following restructuring and asset writedown charges. The oilfield services giant generated quarterly profit of $538 million, or 39 cents per share, on relatively flat Q-on-Q revenue of $8.2 billion. Continue reading
January 21, 2019 The year 2019 promises to be of many definitions for Petrobras. The new president of the company, Roberto Castello Branco, will have to deal in the coming months with important guidelines for the future of the state. Transfer of rights Agreement, refining and deciding whether or not to continue in the petrochemical... Continue Reading →
Upstream dealmakers start 2019 facing an uphill battle. Volatile oil prices and bearish equity markets impede deal flow by creating uncertainty, widening the bid-ask spread, altering financial conditions and making companies re-think near-term strategies, Wood Mackenzie has said. In Q4 2018, as these factors emerged, deal count dropped to its lowest level since Q1 2015,... Continue Reading →
Offshore drilling company Ensco has decided to postpone its general meeting originally scheduled for January 23, 2019. The meeting was scheduled to approve resolutions related to the proposed all-stock merger between Ensco and Rowan, as announced on October 7, 2018. Under the arrangement from October last year, Rowan shareholders were to receive 2.215 Ensco shares... Continue Reading →
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford University, led to... Continue Reading →
Schlumberger signed a contract worth over $200 million with oil major Equinor to manage an offshore rig as part of a drilling program in Brazil’s offshore Campos oil basin, a person familiar with the matter said on Thursday. The deal would be the first time an oil services company replaces a drilling-rig contractor, the person... Continue Reading →
The ANP published today in the DOU a list with nine other companies approved for the Permanent Offer. The Agency is also announcing the environmental guidelines of 494 areas planned to be included in the tender offer. Know more: New registrations - Central Resources do Brasil Produção de Petróleo Ltda. - Construtora Kamilos Ltda.... Continue Reading →
1/17/19 TGS began in February the acquisition of 14 thousand km² of seismic data in the Campos Basin. The campaign will cover blocks auctioned at the last rounds, as well as areas that will be offered by ANP in future rounds, such as the 16th of concessions and the 6th of production sharing, scheduled for... Continue Reading →
Brazil Energy Insight 