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Nov 29, 2019 The president of the Brazilian oil company, André Araújo, says that any interruption in the bidding agenda would affect the operators and suppliers of the oil and gas chain. Shell considers Brazil an attractive country for the oil and gas industry, but the government must seek actions to maintain its attractiveness in... Continue Reading →
Nov 29, 2019 PGS has reached an agreement with Perupetro to create a new ‘MegaSurvey’ in Peru. This large-scale merged and matched dataset targeting the extensive coastline of Peru should provide an opportunity to evaluate prospectivity on a regional basis. The PGS Peru MegaSurvey comprises 21 000 sq. km of 3D seismic. This data will... Continue Reading →
Brazil’s public finances improved in October, Treasury figures showed on Thursday, as a seasonally expected monthly surplus helped reduce the government’s overall deficit this year and keep it on track to come in below target. Still, the 8.7 billion reais ($2.1 billion) primary budget surplus in October was less than economists had expected and social... Continue Reading →
Each quarter more signs of market stability and industry improvements are visible with an expectation to see this trend continue, the company said. Modern harsh environment market utilization has remained greater than 95% for the full year, while there is little incremental supply entering the market, and vintage units rolling off contract are likely scrapping... Continue Reading →
Brazil has experienced a tremendous spurt in crude oil production, propelled by the development of its pre-salt resources. However, taking Brazil’s oil production to its current level certainly didn’t come cheap. Petrobras has paid over 78% of Brazil’s $396 billion bill for exploration (excluding dry well costs), development and operations from 2010 to 2018. This,... Continue Reading →
For a range of reasons not all related to costs, offshore operators have stated their preference for floating production with a recent slew of orders, a report by dedicated floating production watchers said this week. The world’s floating production supply chain — especially those offering front-end engineering and fabrication — can point at the end... Continue Reading →
November 28, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that it signed today with PetroRio Jaguar Petróleo Ltda., subsidiary of Petro Rio S.A. (“PetroRio”), a contract for the sale of 30% stake in the Frade concession, located in the Campos Basin, north coast of the state of Rio deJaneiro for US$ 100 million. Currently,... Continue Reading →
Nov 28, 2019 Petrobras received eight bids for the purchase of Victoria 10,000, the largest of which was $U$ 15 million, after reducing the minimum bid price from $ 47.5 million to $ 5 million. In the first attempt to sell the rig, no proposal was submitted. Vitória 10,000 is a Petrobras rig, but it... Continue Reading →
Brazilian oil company Petroleo Brasileiro SA on Thursday trimmed its oil and gas production outlook for next year, weighing on its shares despite more ambitious long-term output forecasts in its new five-year strategic plan. Petrobras, as the state-run firm is known, aims to produce 2.2 million barrels of oil per day (bopd) next year, below... Continue Reading →
NOV 28, 2019 Although pre-salt is the crown jewel of Brazil's oil sector, the government is preparing a set of new measures to also stimulate onshore areas. The goal is to almost double production over the next ten years in these fields from 270,000 barrels of oil equivalent daily to 500,000 barrels of oil equivalent... Continue Reading →
