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(Reuters) - Exxon Mobil's write-down of about $2.5 billion of troubled California properties aims to end five decades of offshore oil production in the state, but a full exit from those assets could take some time. Sable Offshore, a company created in 2020, agreed more than a year ago to pay $643 million for Exxon's... Continue Reading →
Dutch FPSO operator SBM Offshore has corroborated the start of production from a floating production, storage, and offloading (FPSO) vessel, which is working on Petrobras’ giant oil field in the Santos Basin offshore Brazil. As a result of a 22.5-year lease and operation deal from December 2019 with SBM Offshore, Petrobras chartered the FPSO Sepetiba for operations on its Mero... Continue Reading →
The Brazilian Environmental Institute (Ibama) issued the preliminary license for the Parque das Baleias Integrated Project, in the Campos Basin. The document is valid for five years. The project foresees the interconnection of 17 wells to the new platform vessel (FPSO) Maria Quitéria, nine of which are oil producers and eight water injectors. The platform... Continue Reading →
(OET) With energy security running the show, multiple new oil and gas projects were sanctioned throughout 2023. Among the top eight are the ones operated by TotalEnergies, Shell, ExxonMobil, Equinor, Woodside, OMV Petrom, and ADNOC. The year, which is now behind us, kicked off with an announcement from TotalEnergies and its partners, Shell and Repsol... Continue Reading →
If the industry has been capturing CO2 for decades, why all the innovation now? (OE) CO2 capture technology has been used for around a century in natural gas processing plants to separate out the commercially valuable methane. In the 1970s, that CO2 found purpose in advanced oil recovery. Now, carbon capture and storage (CCS) is... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it put into production the Sepetiba platform vessel, in the Mero field, Libra block, in the pre-salt Santos Basin. This is Mero's third production system, with the capacity to produce up to 180 thousand barrels of oil a day and compress up to 12 million cubic meters of... Continue Reading →
(OET) The oil and gas industry is always on the lookout for ways to boost production levels at offshore fields and gain access to stranded and untapped reserves that are not easy to bring online. Electrification of subsea production systems (SPS) offers the solution to these long-standing issues and constraints while also enabling decarbonization and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors has approved the company's operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell. The transaction is part of the scope of the Memorandum... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the material fact disclosed on December 20, 2022, informs of the non-compliance with the contractual payment obligation of Carmo Energy and its parent company COBRA INSTALACIONES Y SERVICIOS, S.A., as guarantor, related to the sale of all of its stakes in the set of 11 onshore oil... Continue Reading →
(Reuters) Brazilian oil company Enauta said on Monday it acquired the entire 23% stake held by QatarEnergy Brasil Ltda in some oil fields in the Campos Basin for a total value of $150 million. In a securities filing, the company said that the transaction to acquire a stake in the Abalone, Ostra, and Argonauta oil fields, components of the so-called... Continue Reading →
Brazil Energy Insight 