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The development of the 17 production sharing contracts in force represents an investment demand of US$ 122.7 billion, between 2021 and 2030, peaking in 2028, when six new FPSOs come into operation, according to PPSA estimates. - The studies are presented at the 3rd Pre-Salt Petroleum Technical Forum. - The investment projection considers the entry... Continue Reading →
Brazilian oil major Petrobras has launched an opportunity disclosure stage (teaser) for the sale of its 50 per cent in offshore oil fields known as the Marlim Cluster in the Campos Basin, offshore Brazil. Petrobras said it was looking to sell stakes in the deepwater concessions of Marlim, Voador, Marlim Leste, and Marlim Sul fields. The company, which currently owns... Continue Reading →
U.S. oil major ExxonMobil has made another oil discovery off Guyana, at the Tanager-1 well, however, the discovery is reported as non-commercial. Unlike Exxon's previous Guyana wells which were drilled in the Stabroek offshore block, and which unearthed more than 8 billion barrels of oil, the Tanager-1 well was drilled in the nearby Kaieteur Block. Westmount Energy, which... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 25, 2020, informs the beginning of the non-binding phase regarding the sale of all of its stakes in the Albacora and Albacora Leste concessions, located predominantly in deep waters in the Campos Basin. Potential buyers qualified for this phase will receive instructions... Continue Reading →
Norwegian energy intelligence group Rystad Energy has said that oil and gas exploration activity in 2020 has been resilient, despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades. "Found resources already exceed 8 billion barrels of oil equivalent (boe) and are projected to settle at around 10 billion boe... Continue Reading →
Chinese shipbuilder Cosco Dalian has completed the construction of the Carioca MV30 FPSO for Japan's Modec. The 332 meters long Carioca FPSO - converted from Flandre VLCC - will be deployed at the Sépia field operated by Petrobras, located in the “pre-salt” region of the Santos Basin some 250 kilometers off the coast of Rio de Janeiro,... Continue Reading →
Pré-Sal Petróleo (PPSA) celebrates seven years of activities today, reaching a value of R$ 2.59 billion in revenue for the Union. The amount considers the sale of oil and gas from the Union since November 2017 - start of production of the NW of Libra evaluation area, in a long-term test - until September 2020,... Continue Reading →
Marine and engineering consulting firm LOC Group has been awarded new contracts with SBM Offshore to act as Marine Warranty Surveyor (MWS) on two floating production storage and offloading (FPSO) projects. These SBM Offshore’s FPSOs will be deployed offshore Brazil and Guyana, LOC said in a statement on Thursday. LOC will provide MWS services for... Continue Reading →
Energy Platform (EnP) announced the acquisition of a 50% stake in Petro-Victory Energy in the fields of the Lagoa Parda Cluster, recently divested by Petrobras, and in the exploratory blocks ES-T-354 , 373, 441, 477 and 487, all on the Espírito Santo onshore and concluded in the 14th ANP round. The transaction marks EnP's entry... Continue Reading →
While offshore Brazil, Guyana and to a lesser extent Suriname are gaining the lion’s share of attention when it comes to South American offshore oil, with opportunities opening-up in Colombia. The Andean country’s Caribbean coast is believed to hold considerable oil and natural gas potential. It was with much fanfare that Diego Mesa, Colombia’s Minister of Mines and... Continue Reading →
Brazil Energy Insight 