Brought to you by Quest Offshore & Southern Cone Consultants
Tokyo, June 20, 2019 MODEC, Inc. ("MODEC") is pleased to announce that it has received a Letter of Intent (LOI) for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for Petróleo Brasileiro S.A. ("Petrobras") for Búzios 5. The firm time charter period of the contract is 21 years. This will... Continue Reading →
June 19, 2019 Operators assess how to raise mature field productivity. 42% of platforms in Brazil are over 25 years old The average recovery factor of the oil production fields in Brazil is 21%. In the Campos Basin, this percentage is even lower: 14%. The world average is 35%, which represents a gap of the... Continue Reading →
June 19, 2019 Petrobras has announced the result of the tender to hire large, medium and super-sized helicopters for four years, starting operations between this and next year. Instead of 20 aircraft, as originally planned, 19 units were selected, as the oil company canceled the hiring of a helicopter that would start operations in 2021.... Continue Reading →
June 19, 2019 Petrobras closed the year 2018 with a negative record in terms of its nominal investment volume. The company said it had disbursed $ 13.4 billion in the period. This is the lowest volume since 2006, when the state-owned company invested about $ 15.4 billion. The market, of course, felt the impact. Petrobras... Continue Reading →
Offshore drilling contractor Seadrill Partners has made several additions to its management team, including a new chief executive officer (CEO) and a chief financial officer (CFO). Seadrill said on Wednesday that John T. Roche would be appointed as the CEO and join the board of directors. Continue reading
Norwegian oil and gas company Equinor and its partners have fully aligned their interests in the Carcará oil discovery, which is located offshore Brazil. Equinor and Barra Energia have completed their transaction announced on July 4, 2018, whereby Equinor has acquired Barra’s 10% interest in the BM-S-8 block in Brazil’s Santos basin for a total... Continue Reading →
A Brazilian judge on Tuesday granted bankruptcy protection to engineering group Odebrecht, beginning the process of restructuring 51 billion reais ($13 billion) of debt. Odebrecht, which was laid low by a corruption investigation that has rippled across Latin America, filed for bankruptcy protection on Monday, kicking off one of Latin America’s largest, in-court debt restructurings.... Continue Reading →
June 17, 2019 Gas-to-power projects could be a new anchor for the development of natural gas project production in the country, estimates Thiago Teixeira, the deputy superintendent of Petroleum of the Energy Research Company (EPE). The EPE superintendent has shown that the development of natural gas production in the pre-salt will require additional infrastructure with... Continue Reading →
June 17, 2019 The development of Equinor's natural gas exploration and production projects in Brazil should focus on supplying the internal energy market. The evaluation is by Thiago Penna, Manager of Strategy and New Business, who participated in the third edition of the O & G Regulation International Benchmark Forum, organized by IBP and OGE... Continue Reading →
June 17, 2019 Brazil will have demand for the construction of four new refineries by 2040. The estimate, presented by Marcelo Cavalcanti, deputy superintendent of the Energy Research Company (EPE), is that the country will need to jump its refining capacity from the current 2.34 million barrels per day to 3.27 million barrels per... Continue Reading →
Brazil Energy Insight 