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Seismic contractor PGS has completed GeoStreamer acquisition on 17th Round Blocks in Campos Basin offshore Brazil. Ramform Titan has surveyed additional open acreage to complete PGS coverage of the emerging plays of the outboard Campos Basin. This survey provides the first 3D seismic for Brazil’s 17th round, scheduled for October 2021. According to PGS, fast-track anisotropic... Continue Reading →
(Reuters) - Oil prices could rise to $65 a barrel by July amid a tight oil market and slow rebound in demand, Goldman Sachs said. The bank said in a note on Sunday data indicated a deficit of 2.3 million barrels per day (bpd) in the fourth quarter of 2020 driven by higher demand and... Continue Reading →
Brazil produced, on average, 2.938 million barrels / day last year, up 5.5% compared to 2019, according to ANP Brazilian oil production broke a record in 2020. In a year marked by an unprecedented contraction in global demand, the country produced, on average, 2.938 million barrels a day last year, representing an increase of 5.5%... Continue Reading →
(Reuters) Petrobras expects to conclude negotiations with Chinese partners this year for the development of excess volumes from the Búzios field, in the Santos Basin pre-salt, and could buy part of the partners if "by chance" they want to sell, he said on Thursday. the president Roberto Castello Branco. The block with excess volumes of... Continue Reading →
Despite the devastating downturn of 2020, most global majors held up quite well during the market turmoil and Total outperformed all its peers, a Rystad Energy comparative analysis reveals after measuring key upstream performance metrics. Total outshined all other peers, as the French company not only excelled in financial and operational performance but also was... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that has identified the presence of hydrocarbon in the wildcat well of block C-M-411, located in the pre-salt of the Campos Basin, in Rio de Janeiro state. The well 1-BRSA-1377-RJS, informally known as Urissanê, is located approximately 200 km from the coast, in water depth of 2,950 meters, being... Continue Reading →
The Australian oil company Karoon Energy announced the plans for the acquisition of necessary equipment for the Patola field, in the Santos basin. The agreement was signed with TechnipFMC and provides for long-term items that will be used in the development of the asset. The information was disclosed in the company's financial and operating balance... Continue Reading →
The president of Petrobras, Roberto Castello Branco, said this Thursday that the state company should increase its exploratory activity over the next few years. According to the executive, the company will drill up to 58 wells by 2025. The number represents an increase of 50% in comparison with the five-year period from 2016 to 2020,... Continue Reading →
(Reuters) - Global oil demand is expected to rise by nearly 7% this year, boosted by quicker vaccine distribution and a better economic outlook, consultancy Wood Mackenzie said on Thursday. Total liquids demand is expected to average 96.7 million barrels per day (bpd) in 2021, 6.3 million bpd higher than last year when the Covid-19... Continue Reading →
(Reuters) - Three consortia including Asian shipyards are preparing to compete to build Brazil’s Petrobras’ first two in-house platforms in more than seven years, according to four people familiar with the tender who declined to be named as the information is private. Samsung Heavy Industries Co, Hyundai Heavy Industries Holding Co Ltd and Daewoo Heavy... Continue Reading →
Brazil Energy Insight 