Exclusives

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.

Deepwater International

HRT has outlined plans to invest up to $75 million in its heavy oil Polvo Field in the Campos Basin to accelerate development activity and overall reservoir recovery rates.

Exploration

Petrobras has completed the sale of 100% of the shares of PEP to CNPC.

The first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure, the Libra consortium said in a news release.

Petrobras has made a discovery of a hydrocarbon accumulation in the deep waters of the Espírito Santo Basin.

The discovery of light oil in the Lapacho well is expected to have commercial potential, with first output slated for next year, the London-based company said in a statement.

Production

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

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.

Technip has been awarded a contract from the Tupi BV consortium for the ongoing development of the Iracema North Field in Brazil’s Santos Basin presalt area, a news release said.

EMGS has received a contract worth $1.5 million for a research project in Brazil. 

CMM has secured contracts with Petrobras to charter five newbuild fast oil spill response vessels using a fuel-efficient Sea Axe design by Damen Shipyards Group.

CTF has handed over two modules for the first of a series of six vessels to an international consortium led by Petrobras.