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(OE) U.S. oilfield services giant Baker Hughes has secured a ‘significant contract’ from Petrobras for integrated well construction services in the Búzios field, offshore Brazil. The integrated services project is set to start in the first half of 2025 and will include drilling services, drill bits, wireline, cementing, wellbore clean up, fishing, remedial tools, fluids, services and... Continue Reading →
(Reuters) - Guyana may revise terms of its latest oil-production sharing contract and its regulatory framework before a second offshore bidding round, Vice President Bharrat Jagdeo said on Tuesday. Guyana last August updated the production sharing agreement (PSA) and Petroleum Act that set regulatory terms for producers ahead of a first oil round that drew... Continue Reading →
In 2023, we delivered an excellent upstream operational performance, meeting all production forecasts for the year. Total annual production of oil and natural gas, of 2.782 MMboed, was 3.7% above the production of 2022. Our good results were made possible mainly by the start-up of FPSOs Almirante Barroso, Anna Nery and Anita Garibaldi, as well... Continue Reading →
(Reuters) - Brazil's state-run Petrobras (PETR4.SA), opens new tab is in talks with other national oil companies in China, India and the Middle East, including Kuwait Petroleum and Qatar Energy, to collaborate on energy projects, its chief executive said on Wednesday. The company is also keen to work with neighbouring Venezuela, Jean Paul Prates told Reuters on... Continue Reading →
(PN) 3R announced that it hired Itaú BBA as the company's financial advisor in evaluating the operation. The consultancy includes, together with internal teams and legal advisors, the evaluation of the strategy and schedule, and the analysis of the best corporate structure for implementing the potential transaction, if implemented. As a reminder, the merger proposal... Continue Reading →
(Reuters) - U.S. oil and gas firm Hess (HES.N), opens new tab beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations. Hess has agreed to be acquired by Chevron (CVX.N), opens new tab for $53 billion in an all-stock deal that would give the No. 2 U.S. oil producer... Continue Reading →
(OET) Norway’s compressed air systems supplier TMC Compressors has been hired by Yinson Production to deliver a large-capacity marine compressed air system on board a floating, production, storage, and offloading (FPSO) vessel destined to operate offshore Angola. TMC Compressors reported on Monday, January 29, 2024, that the marine compressed air system would entail compressors for control... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, in 2023, it reached total oil and natural gas production of 2.78 MMboed, 3.7% higher than the production recorded in 2022. Commercial production of oil and natural gas was 2.44 MMboed and oil production 2.24 MMbpd. These results exceeded our Strategic Plan 23-27 guidances and were in line... Continue Reading →
The exponential growth in pre-salt production, 240% since the first oil in the region, and the maintenance of refinery capacity generated a significant volume of surplus input, sold on the international market. The projection is for a continuous increase until 2030. Brazil reached a historic milestone in its oil exports, reaching the highest volume in... Continue Reading →
(OE) The topside modules for the giant Bacalhau floating production storage and offloading (FPSO) unit have started the journey to Singapore where they will be integrated with the hull before heading for an assignment to Equinor-operated oil project offshore Brazil. The 22,000 tons of newly constructed modules, designed and built by Norwegian firm Aibel, have... Continue Reading →
Brazil Energy Insight 