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February 18, 2019 Large production growth is believed to result in lower prices due to competition The current government has invested in the potential of pre-salt gas to reduce the cost of energy in Brazil. For Minister Paulo Guedes, the resumption of sustainable growth involves the reindustrialization of the country, based on the increased competitiveness... Continue Reading →
i-Tech 7, Subsea 7’s Life of Field business unit, and Shell have entered into a collaborative technology agreement to accelerate subsea digitalisation, initially for a period of five years from the fourth quarter of 2019. The agreement will help fast-track innovation and streamline the adoption of applied technologies in areas such as marine robotics, advanced... Continue Reading →
FEB 18, 2020 Drilling and seabed mapping activities aim to evaluate discoveries in ultra-deep waters The ANP approved the extension of the execution period of the plans for evaluating the discoveries (PADs) of Quindim and Brigadeiro, in block ES-M-525, operated by Petrobras, in the Espírito Santo Basin. The extension was necessary to carry out the... Continue Reading →
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company's chief executive said. CEO Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen, home to numerous Pemex installations in... Continue Reading →
Offshore drilling contractor Transocean has booked a loss for the last quarter of 2019 as its revenues increased. However, the company has reduced the loss sequentially and year-over-year helped by gain on termination of construction contract, tax items, and disposal of assets, but partially offset by impairments and restructuring costs. Transocean’s contract drilling revenues were... Continue Reading →
Offshore discoveries accounted for more than 60% of global discoveries in 2019, up significantly on previous years, according to a study by GlobalData. GlobalData report reveals that while Colombia and Norway saw the highest number of discoveries drilled in 2019, Guyana, Mauritania and Russia hosted the most significant finds. Continue reading
Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade. According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Continue reading
February 14, 2020 The Working Group set up by determination of the National Council for Energy Policy (CNPE) concluded on the feasibility of offering exploratory areas for oil and gas beyond 200 nautical miles in the 17th bidding round of the National Petroleum Agency (ANP), foreseen for the second semester. The information was provided by... Continue Reading →
February 14, 2020 Last Friday (14), Shell began the licensing process for nine new wells in the exploration blocks CM-659 and CM-713, in the Campos Basin pre-salt, and aquired by the company in the 16th bidding round of the National Petroleum Agency (ANP). The licensing process at Ibama started shortly after the signing of the... Continue Reading →
Australia’s Karoon Gas has failed to find oil in the Marina‐1 exploration well, located in Block Z‐38 Tumbes Basin offshore Peru. The well is being drilled using the Stena Forth drillship, which arrived to Peru in early Janaury. It was spud in late January. By February 17, the Marina well reached a depth of 1654m MD. Initial results from... Continue Reading →
