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Petróleo Brasileiro S.A. – Petrobras informs that, on April 30, 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and gas) type, is capable... Continue Reading →
Oil major Chevron booked a significant increase in its quarterly earnings and revenues driven by higher oil and gas prices. Chevron on Friday reported earnings of $6.3 billion for the first quarter of 2022, compared with $1.4 billion in the first quarter of 2021. Included in the current quarter were pension settlement costs of $66... Continue Reading →
Craig Fleming (WO) With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022. ... Continue Reading →
In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (Sépia field) and P-68 (Berbigão and Sururu fields), located in the pre-salt of Santos Basin, to the lower... Continue Reading →
Petróleo Brasileiro SA – Petrobras, following up on the release disclosed on 11/05/2021, informs that its Board of Directors, in a meeting held today, approved the sale of all its interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin, to the company Petro Rio Jaguar Petróleo LTDA. (PetroRio), a... Continue Reading →
Houston-based Vaalco Energy has brought on stream its second well in the 2021/2022 four-well drilling campaign offshore Gabon and started drilling the third one. The second well has shown strong initial flow rates. To set its 2021/2022 drilling campaign focused on the Etame field in motion, Vaalco hired in June 2021 a jack-up rig provided by Borr Drilling to... Continue Reading →
Brazilian oil and gas company PetroRio is gearing up to start its revitalisation campaign offshore Brazil with Ocyan’s rig after its drilling programme for the Frade field received a green light from the country’s oil and gas regulator. Located in the Northern Campos Basin off the coast of Brazil, the Frade field is a subsea... Continue Reading →
(Reuters) - Guyana sold its first share of crude oil from the country's newest offshore production facility to Exxon Mobil (XOM.N) for about $106 million, the government said. One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads, bridges, houses, gas-fired power plants and solar energy projects.... Continue Reading →
Brazilian oil company Petrobras has brought online the first two wells of the increased oil recovery (IOR) project at Roncador project offshore Brazil, almost five months ahead of schedule and at half of the planned cost, Equinor, Petrobras' partner in the project, said Wednesday. "This represents an important milestone in the development of the field, increasing... Continue Reading →
(Reuters) - Argentina has extended a concession held by energy firms Total Austral, Wintershall Dea Argentina and Pan American Sur for 10 more years until 2041, and approved an investment plan for $700 million, according to a government decree published on Tuesday. The extension for exploring conventional oil and gas in the 1,900 square kilometers... Continue Reading →
Brazil Energy Insight 