Subsea engineering, construction and services company Subsea 7 on Monday announced the early termination of the day-rate contract for its pipe-lay support vessel (PLSV), Seven Mar. The 2001-built vessel was working for Petrobras, offshore Brazil, and the termination is effective from January 16, 2017. The contract was due to expire in 2018 and as... Continue Reading →
Exclusive: Brazil’s Temer says unemployment, not graft probe, biggest worry
Brazil's priority this year will be job creation as its economy emerges from the worst recession on record, President Michel Temer said on Monday, dismissing speculation that key labor and pension reforms could be derailed by a corruption scandal. In an interview with Reuters, Temer said that Latin America's largest economy would exit a two-year... Continue Reading →
Brazil’s Camargo Correa seeks new plea deal over corruption -Veja
Construtora Camargo Correa SA, one of Brazil's biggest engineering firms, is in talks with federal prosecutors for a new plea bargain deal linked to the country's sweeping "Operation Car Wash" corruption scandal, weekly magazine Veja said on Saturday. According to Veja, which cited people with direct knowledge of the talks, lawyers for Camargo Correa are... Continue Reading →
PETROBRÁS RECEIVES NEW FINES FOR LOCAL CONTENT INDEX VIOLATIONS
January 13, 2017 In the first three audits conducted by the National Petroleum Agency (ANP) to verify compliance with local content, Petrobras was fined in all of them. The state-owned company was punished for not reaching the percentages in blocks REC-T-181, in the Recôncavo Basin; and S-M-1480 and S-M-1482, in the Santos Basin. In the... Continue Reading →
Odebrecht to Pay $59 Million, Panama Official Says
Agreement is part of Panamanian government’s probe into alleged bribery payments by the company By ROGERIO JELMAYER Jan. 13, 2017 9:06 p.m. ET 0 COMMENTS SAO PAULO—Brazilian construction conglomerate Odebrecht SA agreed to pay at least $59 million as part of the Panamanian government’s probe into alleged bribery payments by the company, Panama’s attorney general... Continue Reading →
Statoil buys participation in 2 blocks in Esprito Santo Basin
Statoil announced the purchase of 50% participation in two blocks in the Espirito Santo Basin, BM – ES 40 and 41, from OGX and Sinochem. Statoil will operate the blocks jointly with Perenco (50%), a UK based independent operator. Statoil now holds 11 oil concessions in Brazil, 7 in the Espirito Santo Basin. Last year... Continue Reading →
ANP oil exploration auctions may raise R $ 4.5bn in 2017
Press Release / Fernando Coelho Filho Fernando Coelho Filho, Minister of Mines and Energy, said today (12) that the government expects to raise between R $ 3.5 billion and R $ 4.5 billion with the completion of the 14th round of bidding for oil and natural gas exploration blocks and the second Round... Continue Reading →
ExxonMobil in second oil discovery offshore Guyana
ExxonMobil in second oil discovery offshore Guyana | Offshore Energy Today Stena Carron drillship used for drilling of the Liza-2, Liza-3, Skipjack and Payara-1 wells; Image source: HessExxonMobil on Thursday reported positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir.... Continue Reading →
Halliburton pens deepwater tech deal with Petrobras
Halliburton pens deepwater tech deal with Petrobras | Offshore Energy Today zoom Oilfield service provider Halliburton has signed a technology cooperation agreement with Brazilian oil company Petrobras for advanced collaboration in deepwater pre-salt and mature fields. Halliburton said that the multi-year agreement would facilitate the development of innovative solutions in geophysics, drilling and completions, reservoir... Continue Reading →
Brazil prosecutors charge Decal do Brasil executive Ferraz with corruption
Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm. Federal prosecutors allege that Ferraz paid $868,450 to Petrobras' ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated... Continue Reading →
