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The exploratory block C-M-541, in deep waters of the Campos Basin, will have the highest minimum bonus of the 16th round of bids of ANP, which had its pre-edict and the agreement draft released. The area, which is adjacent to the BM-C-33 block, operated by Equinor and where Pão de Açúcar's natural gas discovery is,... Continue Reading →
Malaysian company Sapura Energy has turned to profit in the fourth quarter ended January 31 (fiscal year 2019), with the result boosted by a recent sale of a stake in E&P business to Austrian OMV. Sapura Energy, a company which has three lines of business – Exploration and Production, Drilling, and Engineering & Construction –... Continue Reading →
22 March, 2019 The ANP board approved last Friday (22/3), the pre-edict of the 16th Round of Bids Exploratory Blocks, scheduled to be held on October 10. The round will offer 36 blocks in five sedimentary basins (Campos, Camamu-Almada, Jacuípe, Pernambuco-Paraíba and Santos), with a total area of 29.3 thousand square kilometers. One of the... Continue Reading →
SBM Offshore is back in the Brazilian sector of FPSOs and walking on top. The Dutch company won the tender for the construction of the Mero 2 FPSO, which will operate in the Libra block. The unit will have capacity to process up to 180,000 barrels of crude oil and compress 12 million cubic meters... Continue Reading →
U.S. oil company Murphy Oil’s $2.1 billion sale of Malaysian business to Thai PTTEP announced on Thursday is the biggest oil and gas deal in South East Asia in five years, in what is expected to become a big year for mergers and acquisition in the region. This is according to Wood Mackenzie, an energy... Continue Reading →
Rio de Janeiro, March 22, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that implemented a hedge strategy to protect part of its oil production expected for the year of 2019. Put options have been acquired with exercise price referenced to the average of Brent oil prices, from April to the end of 2019 at... Continue Reading →
Oil and gas company CNOOC Limited has met its annual oil and gas production goals in 2018 and reached a “historic high” in its net proved reserves. In its 2018 annual results for the full year 2018, CNOOC said on Thursday it had expanded its oil and gas reserves and production at a steady pace... Continue Reading →
BASF's oil and gas subsidiary Wintershall on Thursday said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018. "It is part of our growth course that we are also active in new regions, and Brazil offers great potential," said chief executive Mario Mehren... Continue Reading →
Rio de Janeiro, March 21, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the Press Release of 02/01/2019, informs that it obtained a favorable decision, reversing the injunction that suspended the mothballing of the fertilizer plant in Bahia (Fafen-BA). In this way, the company will follow the procedures for mothballing the unit. The... Continue Reading →
British oil giant BP expects to start its first exploration campaign in the pre-salt phase between 2021 and 2022, BP Energy president Adriano Bastos in Brazil said yesterday. According to him, the idea is to start drilling at Pau Brasil, in the Santos Basin. In the last two years, the company invested R $ 1.47... Continue Reading →
