Brought to you by Quest Offshore & Southern Cone Consultants
November 6, 2019 Petróleo Brasileiro S.A. – Petrobras informs that will be the operator with 90% stake in the consortium with CNODC Brasil Petróleo e Gás Ltda. (5% stake) and CNOOC Petroleum Brasil Ltda. (5% stake), which acquired today the exploration and production rights ofthe surplus volume of Búzios field from the Transfer of Rights... Continue Reading →
Nov 1, 2019 Petrobras is due to start production in Sergipe's deepwater in December when it intends to test the Farfan reservoir, one of the discoveries made in the region. The plan foresees the installation of FPSO Cidade de São Vicente, connected to a production well. It took longer than expected to complete cleaning of... Continue Reading →
November 1, 2019 Equinor is the second largest oil company in Brazil in terms of oil and gas production volume. And if it depends on the company's plans, the idea is to further expand these numbers. That's what the company's global supply chain vice president, Mauro Andrade reveals. "We estimate that with the entry of... Continue Reading →
Dutch contractor Heerema Marine Contractors will provide its crane vessels with clean energy by switching them from diesel generators to wind energy. By switching off the diesel generators, total emissions will be reduced by the equivalent of the annual emissions of approximately 5,000 diesel cars, Heerema said on Friday. Eneco will supply power from the... Continue Reading →
Rystad’s evaluation of offshore developments sanctioned since 2010 shows that international oil and gas E&P companies are struggling to make money from offshore investments made between 2010 and 2014 when oil prices were high. Rystad said on Wednesday that the sanctioning activity was record-high during the strong investment cycle from 2010 to 2014 when energy... Continue Reading →
Brazilian investigators said on Friday a Greek-flagged ship carrying Venezuelan crude was the source of oil tarring thousands of kilometers of coastline over the past two months. While prosecutors and police did not name the vessel, a prosecutors’ document obtained by Reuters identified the ship as the Bouboulina, owned by Greece’s Delta Tankers Ltd. Police... Continue Reading →
The Falklands Islands government has extended the term of Argos Resources’ offshore license PL001 by 18 months, giving the company time to find a partner and drill an exploration well. Argos said on Thursday that the license, which was to expire in November, was extended to May 1, 2021. “The Company has a commitment to... Continue Reading →
Brazil’s central bank cut its benchmark interest rate to a new all-time low of 5.00% on Wednesday as expected, but signaled that further easing may be less aggressive than it has been in recent months, despite inflation running well below target. In a change from recent statements, the bank’s policymakers warned that the historically low... Continue Reading →
Oilfield services provider Baker Hughes reported a rise in its third quarter 2019 profit as its orders grew by 35 percent when compared to the same period last year. According to its quarterly report on Wednesday, Baker Hughes’ orders were $7.8 billion in the third quarter 2019, up 35% year-over-year when its orders were $5.7... Continue Reading →
Brazil’s benchmark interest rate will be cut to a record low of 5.00% on Wednesday, according to the unanimous view in a Reuters poll of economists, as the central bank battles to spur economic growth and prevent inflation from falling further below target. All 31 economists surveyed say the bank’s rate-setting committee known as ‘Copom’... Continue Reading →
Brazil Energy Insight 