Brought to you by Quest Offshore & Southern Cone Consultants
(WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classified as the discoverer of... Continue Reading →
Petrobras started contracting process for FPSO for the Barracuda and Caratinga Field Revitalization Project, another important milestone in the Campos Basin revitalization plan. The announcement was published on the Petronect portal last Friday (04/08). The new FPSO will have the capacity to produce up to 100 thousand barrels of oil per day (bpd) and process... Continue Reading →
(PN) Independent operator PRIO ended the second quarter of the year with a record average production of 91,000 barrels of oil per day. One of the highlights in the period was the Frade Revitalization Plan, which consolidated the field's daily production at almost 60,000 barrels per day with the completion of another producing well, ODP5... Continue Reading →
(Bloomberg) – ExxonMobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review. Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development... Continue Reading →
(OE) Malaysian FPSO leasing firm Yinson Production has acquired the Atlanta FPSO, a floating, production, storage, and offloading vessel that will serve as a production unit at Enauta's Atlanta field in Brazil. Yinson acquired the FPSO through the acquisition of AFPS B.V., the platform owner company. Back in February 2022, Brazilian oil firm Enauta bought... Continue Reading →
(OE) Spending on conventional oil and gas exploration is on the rise and is set to top $50 billion this year, led by offshore investments, however, discovery volumes are falling to new lows, despite the rising investments. This is according to Rystad Energy, a Norway-based energy industry intelligence group. Rystad's estimates show that in the... Continue Reading →
ANP announced that oil production hit a new record in June. The agency released today the Monthly Oil and Gas Production Bulletin for the month of June, bringing consolidated data on national production. During the period, a total of 4.324 million barrels of oil equivalent per day were produced, of which 3.367 million barrels per... Continue Reading →
(Reuters) - BP's (BP.L) second-quarter profit slumped 70% from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy giant to boost its dividend by 10%. Rivals Chevron (CVX.N), Exxon Mobil (XOM.N), Shell (SHEL.L) and TotalEnergies (TTEF.PA) have also reported sharp drops in quarterly earnings, hurt by a drop in energy prices from highs... Continue Reading →
In 2Q23, average production of oil, NGL and natural gas reached 2.64 MMboed, 1.5% lower compared to 1Q23, mainly due to higher volume of losses from stoppages and maintenance, the natural decline of mature fields and divestments. Those effects were partially offset by the ramp-up of P-71, in Itapu field, and the startup of FPSOs... Continue Reading →
The Búzios field, the largest in the world in ultra-deep waters, reached, in June, the accumulated production of 1 billion barrels of oil equivalent (boe), after just five years since the asset started operations. This result is due to the high productivity per well in Búzios, the evolution of knowledge accumulated in the pre-salt fields... Continue Reading →
Brazil Energy Insight 