February 10th, 2019 After several years of stagnation, we have delivered an excellent operating performance. Reaching daily, quarterly and annual oil and gas production records. In 4Q19, oil and gas production reached 3.025 million barrels of oil equivalent per day (MMboed), which represents a new landmark in Petrobras history, as we break through the 3.0... Continue Reading →
Disappointing results in shallow sections of Karoon’s Peru well
Preliminary results from the shallower sections of Karoon’s Marina exploration well, located offshore Peru, have shown disappointing results, but the work goes on to reach the deeper primary targets. The well is being drilled using the Stena Forth drillship, which arrived to Peru in early Janaury. The well was spud in late January. In an update on Tuesday, Karoon... Continue Reading →
Petrobras releases teaser for sale of fertilizer plant
February 07, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of all its equity stake in its Nitrogen Fertilizer Unit III (UFN-III ). The teasers, which contain key information about the asset, as well as the eligibility criteria for selection of potential participants,... Continue Reading →
Total targets “giant prospects” in the Campos pre-salt
February 10, 2020 Total plans to drill in block CM-541, in the Campos Basin pre-salt, between the end of this year and the beginning of 2021, informed the company's E&P director, Arnaud Breuillac, during a conference call with analysts last Thursday (6/2). According to the company, there are two “giant world-class” prospects in the asset,... Continue Reading →
Constellation bags offshore drilling contract with Petrobras
Constellation said last week it had secured a three-year drilling contract for the Atlantic Star rig. The Atlantic Star is a midwater semi-submersible drilling rig which was originally constructed in 1976 and was acquired by Constellation in 1997. Continue reading
Diamond Offshore’s 4Q Loss Narrows. Revenue Up
Offshore Drilling company Diamond Offshore posted a net loss of $74 million for the fourth quarter of 2019. The result is an improvement compared to a loss of $79 million in the fourth quarter of 2018, and also compared to the third quarter 2019 loss of $95 million. Diamond Offshore's revenue grew to $276 million... Continue Reading →
OPEC calls for extending oil production cuts amid coronavirus impact
Organization of Petroleum Exporting Countries (OPEC) has recommended extending oil production cuts until the end of 2020 due to the negative impact of the coronavirus outbreak on global oil demand. The Minister of Energy of Algeria and President of the OPEC Conference in 2020, Mohamed Arkab, has said that following an extraordinary meeting of the Joint... Continue Reading →
Searcher Delivers Offshore Peru Seismic Datasets
Australia-based Searcher Seismic has completed its offshore Peru OpenSeis 2D & 3D seismic dataset as part of its offshore Peru multi-client campaign. The ‘Offshore Peru OpenSeis Seismic Dataset’ consists of both 2D and 3D vintage seismic data which has been rectified in a post-stack reprocessing method. The data package comprises of 44,389 kilometers of 2D... Continue Reading →
Colombia: Ecopetrol, Shell in Deepwater Team-Up
Colombia's Ecopetrol and Anglo-Dutch energy giant Royal Dutch Shell have teamed up to develop three blocks in the Caribbean, the state-owned oil company said on Friday. Under the deal, Shell will acquire a 50% operating-stake in the Fuerte Sur, Purple Angel and COL-5 blocks, which are found in deep-water areas of the Colombian Caribbean. Continue... Continue Reading →
January’s worldwide offshore rig count drops sequentially, but up 2 rigs year-over-year
The worldwide offshore rig count in January 2020 has dropped by 14 units sequentially, but rose by two units year-over-year, according to a rig count report by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The international rig count for January 2020 was... Continue Reading →
