The Libra consortium (Petrobras, Total, Shell, CNOOC and CNPC) must request ANP for a waiver to charter drilling rigs at the Libra project, the country's first production sharing area, in the Santos Basin pre-salt. The measure is a reflection of the failure of the Sete Brasil project, which would provide drill rigs for Petrobras with... Continue Reading →
Technip wins two contracts for ultra-deep water fields and helps Petrobras push back subsea frontiers
Technip was awarded by Petrobras two ultra-deep water contracts for the supply of flexible pipes for the Sapinhoá Norte field and I5 at Lula field (former Tupi field), located in the Santos Basin pre-salt area (Brazil), at a water depth of up to 2,500 meters. The combination of both contracts covers the supply of... Continue Reading →
Brazil prosecutor plans to investigate ministers, senators for graft: the never ending story…
Brazil's top prosecutor will seek authorization from the Supreme Court as soon as this week to investigate senior ministers in President Michel Temer's Cabinet and senators from his PMDB party for corruption, a source familiar with the situation said on Sunday. Folha de S. Paulo newspaper reported on Sunday that the request by Prosecutor General... Continue Reading →
With Carnival Over, Brazil Braces for the ‘End of the World’
Brazil’s unpopular and unelected president, Michel Temer, has done much to pave the way for recovery in Latin America’s largest economy. Yet with his inner circle crumbling and support in Congress wavering, an ambitious reform agenda now looks like a tall order. After losing half a dozen cabinet members in his first six months in... Continue Reading →
Spectrum wraps up seismic survey off Brazil
zoom Multi-client seismic data specialist Spectrum has completed the 17,700 km Santos Campos Phase Two 2D seismic survey offshore Brazil. Spectrum said on Friday that the new acquisition program was an outboard extension of its 2012 Santos Campos Phase One survey, and tied other programs in the Santos, Campos, and Espirito Santo Basins According to... Continue Reading →
Petrobras investigates ‘rough’ helicopter landing on FPSO
zoomPetrobras worker (For illustration only) Earlier this week, a helicopter had a rough landing and crashed into the heliport of the Petrobras-operated P-37 FPSO, offshore Brazil. Brazilian state-owned oil giant reported on Wednesday that a S76C model helicopter, owned by Omni Taxi Aereo, crashed laterally into the heliport. The aircraft had taken off from the São Tomé... Continue Reading →
With power demand weak, Brazil mulls an auction to cancel projects
With electricity demand in Brazil slashed by the harshest recession in a century, the government is evaluating an innovative kind of power auction - to allow companies to bid for the right to cancel licenses to build plants. Firms had rushed to bid for licenses to supply the power needed to fuel growth as a... Continue Reading →
Brazil oil exports hit new record in February
Thu Mar 2, 2017 Brazilian oil exports hit their second consecutive record in February, with shipments almost double the level of the same period in 2016, as new offshore production continues to come on stream, government data showed on Thursday. Oil exports rose to 6.23 million tonnes (roughly 45.7 million barrels), 94 percent higher than... Continue Reading →
Subsea 7 cuts quarterly loss
zoomSubsea 7's new vessel Seven Kestrel Subsea services contractor Subsea 7 narrowed its net loss for the fourth quarter 2016 and returned to profit for the full year 2016. Subsea 7 on Thursday reported a $13 million net loss for the last quarter of 2016, a significant reduction compared to a $421 million loss... Continue Reading →
Oil companies recognize progress on new local content policy
The local content policy that was in force between 2005 and 2016 did not reach its objectives. The assessment by the Brazilian Court of Auditors last year, showed how the accumulation of fines, delays in the delivery of equipment and high costs affected the oil and gas industry in Brazil, concluding that "the national content... Continue Reading →
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