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The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 [Bonga] with the local subsidiaries of Shell, Total, Exxon, and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the... Continue Reading →
Consulting organisation Crondall Energy has been awarded a technical consultant role on the SBM Offshore-owned Liza Unity FPSO destined for ExxonMobil’s project off Guyana. Crondall said on Tuesday it would be supporting MUFG Bank Ltd (MUFG) as lenders’ technical consultant for the Liza Unity FPSO project financing. MUFG is acting as a technical bank on... Continue Reading →
The exploratory activity in the Campos Basin gained new impetus. Petrobras started drilling the well 1-BRSA-1380D-RJS, in a water depth of 2,849 meters, in block C-M-346. The area was purchased in 2018, in the 14th Bidding Round. As a reminder, this block was the star of that bid for having received the highest bid in... Continue Reading →
Brazilian oil company Petrobras has awarded offshore services provider Subsea 7 a "very large" contract for the delivery of subsea equipment for the Mero 3 deepwater field development, offshore Brazil. A very large contract, according to Subsea 7, is one worth between USD 500 and 750 million. The Mero-3 field is located some 200 kilometers... Continue Reading →
U.S.-based oil company Talos Energy, working on a unitization agreement for the giant Zama offshore oil discovery in Mexico with the Mexican oil company Pemex, hopes the final solution will see the company lead the development of the field as the operator, and that the parties would realize "true percentages" in the Zama field. Talos... Continue Reading →
(Reuters) Oil production in Brazil up 4.6% in April compared to the previous month, to 2.97 million barrels per day (bpd), in the second consecutive monthly increase, data from the National Agency of Petroleum, Natural Gas and Biofuels pointed out. (ANP), with advances from Petrobras and Shell. In comparison with April 2020, there was an... Continue Reading →
(Reuters) BP (BP.L) and Eni (ENI.MI) said on Wednesday they had entered into talks to merge their oil and gas operations in Angola to form one of Africa's largest energy companies. The two companies have signed a non-binding memorandum of understanding and are in discussions on a joint venture that will include their liquefied natural gas (LNG) facilities, they... Continue Reading →
(PetroNoticias) Imetame notified the National Petroleum Agency (ANP) about the discovery of oil evidence in the Sintonia prospectus (1-IMET-28-ES), within the ES-T-441 block, located on the terrestrial part of the Espírito Santo Basin. Exploratory activity in the region began in April. Block ES-T-441 was fully purchased by Imetame in 2018, during the 14th Bidding Round... Continue Reading →
Angolan offshore drilling firm Sonadrill, the 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a twelve-well contract in Angola for the Sonangol Quenguela drillship. The contract includes one option for nine wells and eleven one well options, Seadrill said Friday. Total contract value for the firm portion of the contract for... Continue Reading →
Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion, Rystad Energy... Continue Reading →
Brazil Energy Insight 