Brazilian police on Friday served fresh search warrants in a new phase of the so-called “Car Wash” investigation that targeted a former cabinet minister and a consortium accused of corruption relating to construction of the Belo Monte hydroelectric dam. Read more
What Total’s arrival in Whaoo and Itaipu projects represents
March 9, 2018 In a new expansion of its E & P portfolio, with the completion of the acquisition of Maersk Oil, Total becomes a partner of two more projects in the Brazilian offshore exploration phase. The discoveries in Total's portfolio are in blocks C-M-61 and C-M-101, operated by Anadarko - which has even... Continue Reading →
Aging Oil Fields Defy Gravity to Pump More Crude
Bob Dudley, in his 38 years in the oil industry, has never seen anything like what happened with BP Plc’s old fields last year: They gushed more crude. “I cannot remember ever in my career having seen a negative decline rate,” the British oil-giant’s chief executive officer said in an interview on the sidelines of the CERAWeek by... Continue Reading →
Oil majors offer $20M for methane tackling tech in climate fix move
OGCI Climate Investments, an investment vehicle formed by several oil majors through their joint Oil and Gas Climate Initiative, has this week announced a $20 million grant aiming to fund technologies that will help reduce methane emissions, helping slow down the global warming. The announcement of the $20 million commitment was made on Wednesday by... Continue Reading →
Total closes Maersk Oil deal
French oil company Total has completed the Maersk Oil acquisition signed on August 21, 2017. Total CEO Patrick Pouyanné announced earlier this week during CERAWeek conference that the acquisition would be completed on Thursday. The acquisition brings to Total around 1 billion barrels of oil equivalent of 2P/2C reserves and resources, mainly in the OECD countries,... Continue Reading →
Chevron looks for PLSV for Frade
Chevron is seeking a PLSV to support development activities at the Frade field in the Campos Basin. The scope of service provides for the transportation and installation of flowlines, pipeline end terminations, SDUs, umbilicals, umbilical termination assemblies, jumpers, and other optional equipment such as wet Christmas trees. The phases of underwater installation, pre-commissioning and commissioning... Continue Reading →
Hereema contracts for Peregrino II
The Heerema Fabrication Group (HFG) hired hydraulic engineering company, DGI Doedijns, to design and deliver the third WHP jacket and control system for the second phase of the Peregrino field development in the Campos Basin operated by Statoil. The value of the contract was not disclosed. The control center will consist of 56 actuated valves,... Continue Reading →
DOF and Petrobras extend AHTS contract
DOF and Petrobras reached an agreement to extend the AHTS Skandi Admiral contract in approximately 265 days until February 28, 2019. The contract is scheduled to begin on June 9, 2018. The original document was signed with the DOF at the end of May 2017. The Skandi Admiral was built in 1999 and has been... Continue Reading →
Petrobras contracts revolving credit facility in the amount of US$ 4.35 billion
Rio de Janeiro, March 8, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has signed yesterday, with a syndicate of 17 banks, a revolving credit facility (RCF) in the amount of US$ 4.35 billion, with maturity in March 2023. Through the instrument, the company may make withdrawals from the line until the month... Continue Reading →
Goldman Is Financing Mubadala’s $8 Billion Petrobras Unit Bid
Goldman Sachs Group Inc is arranging financing for Mubadala Developmentand EIG Global Energy Partners ahead of a bid for Petroleo Brasileiro SA’s natural gas pipeline network in northeastern Brazil, said three people with knowledge of the matter. Read more
Brazil Energy Insight 