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June 21, 2019 The ANP has accepted a request from Enauta and will grant 282 days for the first exploratory period of the FZA-M-90 block in the Foz do Amazonas Basin and 340 days for the PAMA-M-265 and PAMA-M-337 blocks in the Pará-Maranhão. The oil company claimed more time to develop the asset, due to... Continue Reading →
June 21, 2019 Rosneft's plans to monetize its natural gas reserves in the Solimões Basin, plans include the drilling of new wells, the construction of a pipeline system and a treatment plant. The production of the fields of the Russian company will be transported to Manaus by the expansion of the capacity of the Urucu-Coari-Manaus... Continue Reading →
June 19, 2019 Enauta (formerly Queiroz Galvão E & P) received the approval of the ANP for compulsory assignment of Dommo's (former OGX) participation in the Atlanta field (BS-4). The decision was taken by the agency's board on Wednesday (19). The decision is one of the steps to formalize the shares of Dommo Energia for... Continue Reading →
Sembcorp Industries is providing Singapore’s offshore rig builder Sembcorp Marine with a five-year subordinated loan facility of S$2 billion ($1.5 billion). The loan will strengthen Sembcorp Marine’s financial position amidst the current downturn in the global offshore and marine industry, the company has said. According to its statement on Friday, Sembcorp Marine will be using... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore needs more time to work out a sustainable solution for the company’s current financial position as restructuring talks continue. Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create a robust long-term platform for... Continue Reading →
Brazil’s central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, holding back from signaling looser policy because of doubts on economic reforms. Otherwise, the scenario outlined by policymakers was one of anemic economic growth and high levels of economic slack putting downward pressure on inflation at home, plus the... Continue Reading →
Rio de Janeiro, June 20, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 05/10/2019, announces the beginning of the binding phase related to the sale of Liquigás Distribuidora S.A. At this stage of the project, process letters are issued to qualified interested parties with detailed instructions about the divestment process,... Continue Reading →
Tokyo, June 20, 2019 MODEC, Inc. ("MODEC") is pleased to announce that it has received a Letter of Intent (LOI) for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for Petróleo Brasileiro S.A. ("Petrobras") for Búzios 5. The firm time charter period of the contract is 21 years. This will... Continue Reading →
June 19, 2019 Operators assess how to raise mature field productivity. 42% of platforms in Brazil are over 25 years old The average recovery factor of the oil production fields in Brazil is 21%. In the Campos Basin, this percentage is even lower: 14%. The world average is 35%, which represents a gap of the... Continue Reading →
June 19, 2019 Petrobras has announced the result of the tender to hire large, medium and super-sized helicopters for four years, starting operations between this and next year. Instead of 20 aircraft, as originally planned, 19 units were selected, as the oil company canceled the hiring of a helicopter that would start operations in 2021.... Continue Reading →
