FPSO operator BW Offshore has signed an agreement with PetroRio for a one-year extension for the lease and operation of the FPSO Polvo located offshore Brazil. The firm period has been extended from 3Q 2020 to 3Q 2021, with options until 3Q 2022, BW Offshore said last Saturday. The contract has been extended multiple times... Continue Reading →
Westwood: Appetite for finding oil not diminishing despite energy transition talks
The energy transition and Extinction Rebellion led the energy news agenda and discussions in company boardrooms in 2019, but the impact on exploration drilling is not yet apparent, according to market research provider Westwood Global Energy Group. Westwood is suggesting keeping an eye on Brazil in 2020 with one high impact well currently drilling and... Continue Reading →
Bidding areas beyond 200 nautical miles in the ANP 17th round
Jan 10, 2020 The Minister of Mines and Energy, Bento Albuquerque, has formalized the creation of the Working Group determined by the National Council for Energy Policy (CNPE) to evaluate the international rules for bidding areas beyond 200 nautical miles in the ANP 17th bidding round, scheduled to take place in the second half of... Continue Reading →
ANP: 871 oil and gas exploration blocks on offer in 2020
January 10, 2020 The National Petroleum Agency (ANP) has scheduled for 2020 to hold three auctions of oil exploration areas. The bids, still undefined, should take place in the second half of the year and will offer 871 exploratory blocks, mostly in permanent offer areas. The agency will hold a public hearing to receive contributions... Continue Reading →
Sete Brasil: Former pension fund managers are indicted for reckless investment in the company
I admire the tenacity of the Brazilian prosecutors... Jan 9, 2020 The loss was almost R$5.5 billion in contributions from Petros, Funcef, Previ and Valia in the fund created by Sete Brasil. The company built platforms for pre-salt exploration. Task Force Greenfield filed a new complaint against 29 people responsible for the management of the... Continue Reading →
Noble Energy Hires Maersk Rig for Colombia Drilling
U.S. oil firm Noble Energy has hired a 7th generation Maersk drillship for its drilling operation in Colombia. Maersk Drilling said Friday that Noble had awarded it a one-well contract for the Maersk Valiant drillship. The contract is set to begin in the third quarter of 2020, right after the rig's contract with Repsol in... Continue Reading →
Karoon: Stena Forth Drillship Reaches Peru
The Stena Forth drillship has arrived in the Port of Callao Lima Peru ahead of drilling the Marina-1 exploration well for Australia's Karoon Energy. The exploration well is located in Peru's Block Z-38 Tumbes Basin, where Karoon is the operator with a 40% net interest. The drillship will remain at the port for one to... Continue Reading →
Rystad: Exxon’s Guyana finds push oil & gas discoveries to four-year high in 2019
The world’s oil and gas explorers have discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates by energy intelligence firm Rystad Energy. Guyana’s success story from 2018 continued in 2019, with ExxonMobil adding four new discoveries within its offshore Stabroek block, with the last one coming in... Continue Reading →
TGS Q4 Revenue Misses Forecast
Norway's TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday. So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv. TGS did not provide a year-ago comparison for the fourth... Continue Reading →
No New Oil Auctions, Mexico’s President Says
Mexico's President Andres Manuel Lopez Obrador said on Wednesday his government was not contemplating reopening oil and gas auctions this year, ending hopes his left-leaning government will soon spur private investment in the energy sector. "It's not contemplated," Lopez Obrador said at his daily press conference when asked if his government was considering offering auctions... Continue Reading →
