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Aiming to boost the onshore industry, Brazil’s government wants to triple its output.
The London-based company is gearing up to drill the Araku prospect offshore Suriname and start seismic campaigns, including offshore Guyana updip of ExxonMobil’s Liza discovery.
Brazil’s proposal to ease local content rules provokes a war between Petrobras and the country’s offshore industry.
The agreement gives Total stakes in the Iara and Lapa fields and gives Petrobras an option to acquire interest in the Perdido Belt area in the Gulf of Mexico.
Global exploration activity might be down in the dumps, but there’s a new exploration hot spot lighting up South America.
Technip has clinched a major contract worth at least $559.2 million to supply a network of flexible pipes for the deepwater Lula Alto field offshore Brazil.
The issues related to Petrobras and the ongoing corruption probe in Brazil could lead to at least four major deepwater FPSO projects hitting at least a one-year delay, according to Portugal’s Galp Energia.
QGI Oil & Gas consortium has abandoned more than $1 billion worth of modules integration work on two identical FPSO vessels destined for one of Petrobras’ developments.
Petrobras has churned out announcement of yet another ultra-deepwater discovery but this time in the post-salt.
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.
The state-run oil companies of Bolivia and Argentina signed a contract on Jan. 16 to jointly explore and drill an area in the Charagua area of Bolivia's Santa Cruz province.
Piracuca was declared commercial in 2009, but further studies showed the area was not commercially viable, Petrobras said in a statement sent to Reuters.
Vaca Muerta, one of the world's largest shale formations, has attracted investment from Exxon Mobil Corp. and Chevron Corp. , but remains largely unexplored, Reuters reported.
Petrobras said in October it was in talks with Karoon to sell the oilfields. An injunction on Nov. 19 suspended the negotiations, prompting Petrobras to appeal two days later.
The agreement to acquire the stake was announced in October, and included an option for Aker Solutions to purchase the remaining 30% of the company three years from now.
MODEC said this FPSO is the 11th it has delivered to Brazil's oil and natural gas sector, and the fifth it has delivered to the presalt region.
Venezuela currently produces just over 2.4 MMbbl/d of crude and condensates, according to ministry data, Reuters reported.
The FPSO vessel, which is connected to the field by production well 7-LPA-1D, has the capacity to process 100,000 barrels of oil per day and compress 5 million cubic meters of gas, Petrobras said.
Argentina's YPF said on Oct. 28 it signed a deal with Norway's Statoil ASA (NYSE: STO) to study potential drilling sites offshore Argentina's Atlantic coast. The seismic tests will be undertaken in waters 500 meters (m) to 3,500 m deep.
Petrobras, Libra's operator, owns 40% of the area. Royal Dutch Shell Plc (NYSE: RDS.A) and France's Total SA each own 20%. China's CNOOC and China National Petroleum Corp. each own 10%, Reuters said.
Halliburton’s Brazil Technology Center in Rio de Janeiro is being used in the project. It is one of 15 global centers for technology, Halliburton said.
Neuquen province, where most of the formation is located, agreed to stabilize taxes as part of the deal; and labor unions have signed onto more flexible contracts, Reuters reported.
Dingman was a director of Ford Motor Co. for 21 years, and then Time and Time Warner for 24 years, the Mellon Bank and Teekay Shipping, among other companies.
Workers at Peru's Camisea natural gas fields have called off a strike scheduled for Dec. 29 after reaching a deal on labor benefits with Argentina's Pluspetrol, the union SUTRAPPEC said Dec. 28.
Canacol Energy Ltd. provided an update Dec. 19 for the Clarinete 3, Nelson 5, and Nelson 8 development gas development wells in Colombia, and for the first-quarter 2017 exploration drilling program.