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(Reuters) - U.S.-based oil major Chevron (CVX.N) will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina's economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending... Continue Reading →
Mexico’s hydrocarbon regulator, the Comisión Nacional de Hidrocarburos (CNH), has greenlighted a unit development plan (UDP), which Pemex submitted on behalf of its partners – Wintershall Dea, Talos Energy, and Harbour Energy – for a giant oil field located in the Sureste Basin offshore Mexico. The Zama unit development plan (UDP) was submitted in March 2023 to Mexico’s... Continue Reading →
(OET) Dalian Shipbuilding (DSIC), part of China State Shipbuilding Corporation (CSSC), has delivered a floating production storage and offloading (FPSO) vessel bound for an Equinor-operated field off Brazil. Back in June 2021, Equinor made the final investment decision (FID) for the $8 billion worth Bacalhau project. A few days later, MODEC officially confirmed a contract award with Equinor to deliver the engineering, procurement,... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, and following the material fact disclosed on May 16, 2023, informs its investors and the market in general that repairs of the offloading system on platform 3R-3 (FPSO) were concluded on May 24 and on... Continue Reading →
TotalEnergies and the Government of Rio de Janeiro announced the signing of the Memorandum of Understanding (MoU) to collaborate with the development of offshore wind generation in the State. The agreement, which lasts for 2 years, includes the company's collaboration in studies related to fiscal and tax incentives and the expansion of the GRID system... Continue Reading →
(Reuters) - Chevron (CVX.N) has launched a sale process for its oil and gas assets in Congo as the U.S. energy giant continues to focus operations on newer and more profitable production, industry sources said. The Congo assets could fetch up to $1.5 billion, according to two sources close to the process. Chevron received bids for the... Continue Reading →
Exclusive article from TN Magazine The oil industry's activity resembles a moving bicycle. Without new impulses, the activity remains for a while, but tends to gradually decline and eventually cease. In the oil sector, these impulses can be given in two ways: with the exploration of new areas; or with investments in existing fields to... Continue Reading →
Brazilian oil and gas player Enauta has found oil in a new reservoir section at a well located on a field development offshore Brazil. Enauta disclosed on Tuesday, 23 May 2023, that it had confirmed oil in a new reservoir section, named Atlanta NE accumulation, located within the Atlanta field area, which is currently under development. The... Continue Reading →
The FPSO Guanabara (Mero 1) completed one year of operation on April 30th. This FPSO is the first of a series of four definitive platforms scheduled for the unitized Mero field, in the Libra block (Strategic Plan 2023-2027).In that first year, several milestones were achieved: the TOP of the unit in January/2023, the production record... Continue Reading →
(OM) Hookup operations have finished on the converted Pargo floating storage and offloading vessel (FSO) on the Pargo cluster in the Campos Basin offshore Brazil. Operator Perenco Brazil now plans to submit final documents to the country’s regulatory authorities to obtain an operations license for the FSO. The program included connection of nine mooring lines and the... Continue Reading →
Brazil Energy Insight 