Exclusives

Growing demand in Argentina’s central Pampas and Patagonia regions presents opportunities for investors as the country seeks to build three new gas pipelines.

Mexico makes history with its first deepwater contracts with private operators, including BHP Billton, Chevron and Inpex. What does it mean for exploration on the Mexican side of the Gulf of Mexico?

The country’s first auction of 2017 will offer onshore areas. The government will also auction post-salt and presalt areas.

U.S. firms across the value chain can take advantage of opportunities that will emerge from Mexico’s energy reform, say experts at EnerCom.

GeoPark, Latin America, oil, gas, assets

As GeoPark Ltd. looks to grow its production, the extent of which depends on oil price, the Latin America-focused independent also wants to expand its portfolio.

Exploration

The divestment is part of Centrica's drive to focus its oil and gas E&P activity on Britain, the Netherlands and Norway, Reuters reported.

Brazil's oil industry regulator ANP said Sept. 29 it plans to auction rights to up to 10 areas with marginal accumulations of petroleum and gas on March 24.

The assets include pipelines, a system of subsea cables, two non-drilling platforms and a facility for gas compression, according to IFR, a Thomson Reuters publication.

As part of the agreement, Touchstone will acquire a 100% working interest in five blocks located in the Southern Basin of the Republic of Trinidad and Tobago. The blocks— Fyzabad-2, WD-2, WD-5/6, WD-13 and WD-14—have an estimated average field production of about 1,490 barrels of oil per day, the release said.

Range announced that hydrocarbon sands and oil shows were encountered at the Upper Cruse channel sand complex during drilling of the well, with electric log interpretation confirming the presence of recoverable hydrocarbons with an estimated net pay of 48 ft.

Production

Drops in Latin American could also be bigger than forecast. Petrobras aims to marginally lift output this year but has been dogged by the country's worst ever corruption scandal that is slowing investments.

Under relaxed trading embargo with U.S., Cuba can now use products made with 25% U.S. components. Cuban officials say at least one deepwater rig meets the new standard, Reuters reported.

Construction of Blue Ocean Drilling’s jackup units is underway at China’s Shanghai Waigaoqiao Shipbuilding yard. (Source: Blue Ocean Drilling)

Blue Ocean Drilling is set to make its market splashdown in 2016 with new rigs and new approach.

Technology

When fully onstream, the onshore compression facility will have the potential to deliver about 200 million standard cubic feet of gas per day, BP said in a news release.

PDVSA awarded contracts to drill wells in the Orinoco Belt, although some foreign partners are uncomfortable with the rushed tender and structural problems that could hinder the projects, according to sources close to the matter.

Yan Liu resigned as CEO and Trinidad general manager, effective Jan. 31.  Lijun Xiu was appointed as Trinidad general manager, effective immediately. Currently, Xiu is the Trinidad deputy general manager.

By deferring these capex commitments to 2018 and 2019 with no further payments to the yard until that time, Seadrill was able to improve its near-term liquidity position, the company said.

Trinity, an independent E&P company focused on Trinidad and Tobago, has tapped Jeremy Bridglalsingh, to take on the role of CFO after the resignation of Bryan Ramsumair.