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The Program for the Improvement of Oil and Natural Gas Exploration and Production Tenders (BidSIM) came to the conclusion that it is "urgent" to change the law to allow the concession regime within the so-called pre-salt polygon . According to the final reports of the program, the measure is necessary to increase the attractiveness of... Continue Reading →
A deadly accident on an offshore platform belonging to Mexican state oil company Pemex "may slow" the company's production growth rate, ratings agency Fitch said in a statement on Tuesday, after officials confirmed a sharp hit to output. The rating agency warning follows the weekend incident in the southern Gulf of Mexico which engulfed in... Continue Reading →
Oil major ExxonMobil has decided to postpone selecting the prospect target for the second well on the Kaieteur Block offshore Guyana by seven months. Westmount Energy on Monday noted the announcement on Sunday by one of the partners, Ratio Petroleum, that the date for elective nomination, by the operator, of the prospect target for the second... Continue Reading →
The Petrobras divestment program of oil and gas producing fields has a date set to end: December 31, 2021, as determined by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). In recent years, medium-sized oil companies have gained muscle by acquiring state-owned assets. But, starting in 2022, they will need to look for... Continue Reading →
Oilfield services giant Schlumberger has this week introduced a service called Autonomous Directional Drilling, which, the company says, includes solutions to steer autonomously through any section of the wellbore. According to Schlumberger its intelligent and dynamic downhole automated control system instantly interprets and acts on data, enhancing well construction performance," the company said. Autonomous Directional... Continue Reading →
The four contracts for surplus volumes of the Transfer of Rights - Búzios and Itapu (already signed) and Sépia and Atapu (which will go up for auction next December) - should account for 56% of production under the sharing regime by 2030, producing 4 billion barrels of oil in the decade. In total, the estimated... Continue Reading →
(Reuters) Rising calls to cut carbon emissions and to reduce global warming could generate more offshore partnerships and increase the output of cleaner oil for Brazil, the production chief of state-controlled Petrobras said in an interview. Brazil oil officials are in Houston at an offshore oil conference shopping for partners to develop deepwater oilfields that... Continue Reading →
Italian oil firm Eni said Friday it had recently started production from the Cuica field offshore Angola. The company is producing oil from the field via the Armada Olombendo FPSO. Production started on July 30, 2021, just over 4 months from discovery. To remind, when it first announced the discovery, Eni said the field would be... Continue Reading →
Russian independent oil company Lukoil has started drilling its first exploration well at Block 12 located in the southern area of the Gulf of Mexico. Lukoil said on Monday that the Yoti West-1Exp well would be drilled by the Valaris 8505 semisubmersible rig, which was transported to Block 12 after its successful work at Block 10 on... Continue Reading →
(OE) Venezuela's national oil company PDVSA is reportedly preparing to resume production from the Corocoro offshore oil field. Reuters said Thursday, citing people familiar with the matter, that PDVSA would use the Cororoco oil to feed its refineries. The Corocoro oil field, in which the Italian oil firm Eni is a partner as part of... Continue Reading →
Brazil Energy Insight 