Brazil has relaxed local content requirements for companies developing the Libra offshore oilfield, the government said on Monday, in a move it expects will unlock $16 billion in investment for Latin America’s top oil producer. The move lowers thresholds that dictate what percent of certain equipment and services must be provided locally to levels “more... Continue Reading →
Saipem bags $700M in offshore contracts in Guyana and Congo
Italian oilfield services contractor Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza field development offshore Guyana. It has also won an offshore work contract in Congo. Once the Liza 2 has been sanctioned, Saipem will then perform detailed engineering, procurement, construction, and installation of the risers, flowlines, and associated... Continue Reading →
Petrobras Offers to exchange new registered securities for securities offered in private transactions
Rio de Janeiro, august 20, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers (the “Exchange Offers”) by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to exchange up to U.S.$3,759,866,000 aggregate principal amount of PGF’s newly issued 5.299% Global Notes due 2025 (CUSIP/ISIN: 71647N AV1 / US71647NAV10) (the... Continue Reading →
Petrobras hires Oceaneering for intervention and completion ops in Brazil
Subsea services provider Oceaneering International has secured a four-year contract with a one-year optional extension period from Petrobras in Brazil. Oceaneering said on Monday that the contract was won by its wholly owned subsidiary, Marine Production Systems do Brasil Ltda. According to the company, the contract will support intervention and completion operations in Brazil. Read... Continue Reading →
Shell charters AET shuttle tanker for Brazilian ops
Shuttle tanker owner AET has secured its first contract with Shell. The contract is for the time charter of one new-build dynamic positioning shuttle tanker in Brazil. The 152,700 DWT DP2 vessel will be built by a Korean shipyard expected for delivery in Q4 2020 and, although earmarked for Brazilian waters, the vessel will be... Continue Reading →
Alvopetro invests US $ 15 million in Recôncavo
08/17/18 Amount will be applied in the development of the gas fields of Caburé and Gomo Alvopetro announced that it will allocate US $ 1.8 million to the Caburé and Gomo fields later this year and around US $ 14 million in 2019. The company said it will focus on the development of these gas... Continue Reading →
Equinor gives sequence to exploration of BM-S-8
08/17/18 Started drilling for one more well in the Guanxuma prospect in the Santos Basin Equinor has started drilling a new well in the BM-S-8 block in the Santos Basin. The 1-STAT-10C-SPS or Guanxuma B T2, the nomenclature given by the company, is the fourth well perforated by the Norwegian oil company, which assumed the... Continue Reading →
Petrobras May Reverse Its Decision to Sell Braskem, CFO Says
Petroleo Brasileiro SA may abandon a plan to sell shares in Braskem SA, and could even double its stake in the petrochemical company it views as a natural hedge for oil prices. Petrobras, as the Rio de Janeiro-based company is known, is reassessing its petrochemicals strategy after having put its 4.3 billion-real ($1.1 billion) stake... Continue Reading →
Petrobras/Favorable decision by CARF concerning the deductibility of production development expenditures for purposes of IRPJ and CSLL assessment
Rio de Janeiro, August 16, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that today the Administrative Board of Tax Appeals (CARF) issued a decision, unanimously, in favor of the company, in an fiscal administrative proceeding in the amount of R$ 8.4 billion, related to the moment of deductibility of expenses incurred by Petrobras in... Continue Reading →
Petrobras, Ensco iron out differences
Offshore driller Ensco has said it has resolved its issues with Petrobras and is now back on track to potentially secure more work with the Brazilian oil giant. “Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement,” Ensco said. Petrobras in... Continue Reading →
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