(PH) Angelica Ruiz took charge of bp in Brazil just three months ago, but she already has a lot of work ahead of her. The executive, who accumulates the position of VP of Latin America, has the challenge of leading the operation of a company that, present in the country since 1957, operates in the... Continue Reading →
With BW Offshore FPSO’s stay prolonged, Tullow puts all options on the table for stake in oil field off Ivory Coast
(OET) UK-headquartered oil and gas company Tullow Oil is mulling over all options for its interest in an oil field located offshore the Ivory Coast. This comes after BW Offshore secured a short-term contract extension for one of its floating, production, storage and offloading (FPSO) vessels, which is working at the field. As Tullow Oil’s... Continue Reading →
Ocyan undergoes restructuring, giving birth to new drilling player
(OET) Brazilian offshore oil and gas industry services provider Ocyan has confirmed the completion of its restructuring process, which enabled it to separate its drilling business into a new company, temporarily being called DrillCo. The business side covering offshore production, subsea construction and decommissioning, maintenance, and offshore services remains fully at Ocyan, according to the... Continue Reading →
Argentina says Chevron to invest $500 million in Vaca Muerta shale area
(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 →
Stamp of approval for huge Mexican Zama oil field development plan lays the foundation for $4.5 billion investment
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 →
Chinese shipbuilder delivers MODEC’s new giant FPSO destined for Brazilian waters
(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 on the resumption of production at the Papa Terra Cluster
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 signs memorandum for offshore wind projects with the Government of Rio de Janeiro
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 →
Chevron launches sale of Congo oil assets – sources
(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 →
The New Exploratory Frontiers and the Brazilian Impasse, by Rodolfo Henrique de Saboia – Director General of ANP
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 →
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