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

Petrobras has highlighted the money it is saving through the utilisation of subsea equipment support vessels (SESVs) instead of drillships and rigs to install its subsea trees in the pre-salt offshore Brazil.

Karoon Gas reports that its ongoing appraisal of its Kangaroo discovery offshore Brazil remains encouraging, with drilling of the latest sidetrack now complete.

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.

Exploration

The well is in the northwest portion of the Libra block in the Santos Basin presalt.

Spectrum has commenced a 12,000 km (7,456 miles) multiclient 2-D seismic survey offshore the Pelotas Basin of Brazil, the company said in a news release.

Petrobras has made a discovery of new oil accumulations in concession BM-C-35.

Drilling activities have confirmed the extension of the previously announced discovery and detected the presence of a new, shallower light oil-bearing reservoir.

The results of drilling a Sergipe Basin well confirm the light oil and gas discovery in Farfan area and presented excellent permoporosity conditions.

Production

Petrobras halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team.

For the last 10 days, the well has averaged about 1,135 bbl/d gross. 

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.

Technology

On Feb. 12, the company said that five of the 74 people onboard the Cidade de São Mateus  died, and that four are still missing.

Aldemir Bendine has been named as CEO of Petrobras after a vote Feb. 6 by the company’s board of directors, according to a news release.

State-run Petrobras’ board of directors will meet Friday to elect replacements for Foster and her management team.

YPF and Sinopec have agreed to work together to develop conventional and unconventional oil and gas projects in Argentina.

Petrobras now operates more floating production platforms (including self-owned and chartered ones) than any other company in the world, according to Petrodata.