Exclusives

Venezuela is experiencing a growing exodus of skilled oilfield workers as real wages for engineers have fallen to about 9% of the global average, dragging down oil production at a time when slumping crude prices threaten the country’s export revenue.

Through industry's support of long-term research, solutions to today's upstream challenges are found by looking for challenges of the future.

Teekay is due to sign a LoI with Petrobras to supply an FPSO for the operator’s ultradeepwater Libra Field offshore Brazil.

The company is placing its bets on presalt, hoping to boost its overall production and generate massive cash flow.

Eulogio Del Pino will take over as part of a series of government changes.

Deepwater International

The expected date for a Final Investment Decision (FID) on Premier Oil’s Sea Lion FPSO project offshore the Falkland Islands appears to be sliding further to the right.

Teekay is to provide an FPSO vessel for the heavy oil Atlanta Field offshore Brazil, using the tried and tested offshore workhorse Petrojarl I.

The series of management improvement measures – some might just call it cost-cutting – adopted by Petrobras over the last two years is starting to show some real rewards.

The P-66 floating production vessel’s first modules have been delivered to the Brasfels Shipyard in Angra dos Reis, Rio de Janeiro.

GE has opened a new $500 million technology center in Brazil focused on developing advanced subsea oil and gas technology.

Exploration

The agreement is for the provision of 3-D EM data from a portion of EMGS' multiclient data library in Foz do Amazonas in Brazil.

Exxon Mobil Corp. successfully drilled its second shale oil and gas well this year in Argentina.

EMGS has been awarded a contract from BG Group worth about $27 million for 3-D EM data acquisition in Uruguay.

The Kangaroo-2 appraisal well offshore Brazil has encountered multiple oil-bearing zones, Karoon Gas Australia Ltd. said in a news release.

The new acquisition program will infill Spectrum’s survey acquired in 2013 and cover open, ultradeepwater acreage in the Oriental del Plata and Pelotas basins.

Production

The Iara area is located about 250 km (155 miles) off the coast of Rio de Janeiro in water depths of about 2,270 m.

The field located about 200 km (124 miles) off the coast of Rio de Janeiro at a water depth of 1,600 m (5,249 ft) to 2,100 m (6,890 ft), according to the release.

Petrobras announced that the offshore platform Cidade de Ilhabela started up on Thursday in the Santos Basin presalt field of Sapinhoá.

The company has missed its annual production targets for 10 straight years on oil services equipment delays.

Halliburton Opens Argentina’s First Sand Storage, Loading Facility

Technology

Petrobras said that the breakeven price planned at the moment when its presalt production projects were approved was around $45/bbl.

Petrobras has completed drilling the Pudim extension well in the Espírito Santo Basin post-salt, which has confirmed the presence of excellent quality oil.

Petrobras is transporting the hull of the P-66, the first platform in a series of eight “replicant” FPSO units being constructed to meet oil production demands in Brazil.

The FPSO vessel will be deployed at the Tartaruga Verde and Tartaruga Mestica fields in the BM-C-36 Block in the Campos Basin in water depth of 765 m (2,510 ft).

The FPSO unit Cidade de Ilhabela is formally on hire after achieving first oil and completing a 72-hour continuous production test leading to production acceptance notice.