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.

The company is relying on platforms to tap offshore deposits.

Premier Oil selects AMEC to perform FEED study for its planned Sea Lion TLP intended for the Falkland Islands.

Much of the play’s success will depend on economics.


Libra Consortium signs letter of intent for charter of its first FPSO for extended well tests.

Exxon Mobil Corp. was awarded a $1.6 billion settlement by an international arbitration panel for assets seized by Venezuela’s government in 2007, less than the crude producer had sought.

YPF SA and OAO Gazprom are in talks to sign a memorandum of understanding to develop natural gas in Argentina worth at least $1 billion, the South American country’s Industry Minister Debora Giorgi said.