12/14/18 In November, Petrobras returned four exploratory concessions to the Union. This year, a total of 12 returns have already been made. As a result, the Brazilian state-owned company now owns a portfolio of 134 blocks, contracted under both a concession and sharing system. The areas returned in November are concentrated in the terrestrial and... Continue Reading →
Brazil prosecutors charge former Trafigura executives with corruption
SAO PAULO (Reuters) - Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura [TRAFGF.UL] for allegedly paying at least $1.5 million in bribes to employees of Brazil’s state-run oil company Petroleo Brasileiro. Prosecutors said in a written statement that the charges filed against Mariano Marcondes Ferraz, a... Continue Reading →
Petrobras Appointment of the new CEO
Rio de Janeiro, December 13, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that today it received from its controlling shareholder a letter with the appointment of the economist Roberto da Cunha Castello Branco to serve as President of the company and member of Petrobras Board of Directors. The indication shall be submitted to corporate... Continue Reading →
Libra Consortium puts Mero SPA in operation
After almost two and a half months, Libra Consortium resumes production of the sharing field, initiating the operation of a new phase The Libra consortium put into operation the first advance production system of the field of Mero. The new system is being carried out with the newly drilled 3-RJS-751D (Mero 2) injector well... Continue Reading →
TechnipFMC Delivers 2019 Forecast
The UK-based energy services giant TechnipFMC said it estimates 2019-revenues between $12.8 – $13.5 billion. The company’s Subsea division is expected to generate $5.4 – $5.7 billion in 2019, with EBITDA margin of at least 11%. Continue reading
QGEP announces date for drilling of new Atlanta well
12/13/18 Third well will be decisive for defining the future of the definitive project of the first offshore deepwater field operated by the Brazilian oil company Queiroz Galvão Exploration & Production (QGEP) plans to begin drilling the third well of Atlanta's early production system in the Santos Basin at the end of February. The campaign... Continue Reading →
Petrobras seeks two MSUs
12/13/18 Bidding foresees the chartering of units to operate in Brazilian waters for three years Petrobras will receive until January 14 proposals for the chartering of two maintenance and security units (MSU) for a period of three years in Brazilian waters. The bidding is divided into two lots, both providing for the contracting of a... Continue Reading →
Oil industry sees new Bolsonaro administration with optimism
With much of the agenda under the Temer government and the liberal bias of the next government's economic team, the oil and natural gas market is optimistic about Jair Bolsonaro's new administration. Although the captain of the reserve has appointed an admiral with knowledge in the nuclear area to lead the Ministry of Mines and... Continue Reading →
Acteon Adds Deepwater Corrosion Services
Subsea services group Acteon has acquired Houston-based corrosion specialist Deepwater Corrosion Services. According to Acteon, the addition of Deepwater’s expertise and portfolio should strengthen its integrity management abilities of critical subsea infrastructure throughout the life of a field. Deepwater operates from facilities in the USA, the UK, Brazil, Norway and Australia. It has designed, built... Continue Reading →
Angola Tries to Jump Start Oil Exploration to Halt Output Drop
Angola’s state-run oil and gas company is ramping up efforts to lure foreign investors and halt a decline in crude output. Once Africa’s biggest oil producer, output has tumbled in recent years due to under-investment in new projects and natural declines at aging fields. If it fails to halt this decline it will put severe... Continue Reading →
Brazil Energy Insight 