Exclusives

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This special program provides temporary admission of imported goods, such as oil platforms and equipment, for a limited amount of time.

Falling breakevens, access to new acreage and sizeable reserves are keeping Latin America front and center.

BP, Woodside, gas, offshore, Trinidad, Australia, Persephone, Juniper

The latest startups mean BP has brought five of its seven major 2017 projects onstream.

The government will launch round three for bids even though there has never been a discovery offshore Uruguay.

gas, exploration, offshore, Colombia, Caribbean, Anadarko, Ecopetrol

The Colombian government expects offshore discoveries to triple gas reserves.

Exploration

CGG GeoConsulting and the Petroleum Corp. of Jamaica (PCJ) reported the discovery of two independent live oil seeps from different parts of the island of Jamaica on Feb. 20.

The price would be far less than the $2.45 billion that Sinopec paid in 2010 to buy the Argentine assets from U.S.-based Occidental Petroleum.

Brazil and Mexico are competing for a diminishing resource: the investment dollars of oil majors beating a retreat from the big-ticket offshore projects they once coveted.

Mexico will announce later this week the bid terms and blocks up for grabs in its next deepwater oil tender, which may include the first areas from the Cordilleras Mexicanas Basin.

Vista Oil & Gas intends to purchase energy E&P assets in Mexico, Colombia, Argentina and Brazil within two years of its listing on the Mexico stock market, tentatively planned for a month from now.

Production

Colombia’s southern Transandino pipeline was halted after a bomb attack by an illegal armed group spilled crude oil into a river, state-run oil company Ecopetrol said on April 22.

GeoPark announced on April 18 the successful testing of the Tigana Norte 9 appraisal well in the Tigana oil field in the Llanos 34 block in Colombia.

Four workers injured in protests; pipeline remains closed.

Statoil seeks to dominate Carcara discovery as it builds Brazil output.

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

Technology

An international arbitration court has ordered Venezuela's state-run oil company PDVSA to pay ConocoPhillips $2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said on April 25.

Statoil is focused mostly on future deepwater opportunities in Mexico but does not rule out others, CEO Eldar Saetre said in an interview late on April 12.

President Donald Trump on March 19 signed an executive order barring any U.S.-based financial transactions involving Venezuela’s new petro cryptocurrency, as U.S. officials warned that it was a “scam” by President Nicolas Maduro’s government to further undermine democracy in the OPEC country.

Deutsche Erdoel Mexico inked a license contract on March 6 with Pemex and the Mexican National Hydrocarbons Commission (CNH) for the Ogarrio Field in Mexico.

McDermott to build on its strong collaborative relationship with BP on the Cassia C Compression Platform in Trinidad and Tobago.