Exclusives

An NOC announces plans to drill thousands of wells in the NCS in the coming decades.

Brazil’s Presalt Oil Auction Achieved 100% Of Blocks Acquired

Brazil’s 5th presalt production sharing round, held 10 days before the country’s upcoming presidential elections which outcome is unpredictable, attracted several oil majors.

Peregrino, Brazil, offshore, Equinor, presalt, Tim Dodson

Hart Energy spoke to Tim Dodson, executive vice president of exploration for Equinor, during the recent ONS2018 conference about the growing importance of Brazil to the company’s exploration portfolio.

Brazil, renewable, energy, solar, wind, Petrobras, Equinor, Total, Shell

The South American country is offering companies a chance to invest in renewable energy areas such as wind and solar.

AI can speed up seismic processing and interpretation, but it is still not an exact science. Companies are working to solve the hiccups. 

Deepwater International

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.

Exploration

By offering all four offshore oil blocks, Brazil's cash-strapped government raked in $1.71 billion, days ahead of the most uncertain presidential vote in a generation.

A Brazilian auction of rights to develop additional oil-producing areas in the country’s so-called transfer-of-rights region is unlikely this year, Brazil’s Deputy Mining and Energy Minister Marcio Felix said on Aug. 21.

The move is expected to unlock $16 billion in investment for Latin America’s top oil producer

Frontera Energy Corporation on Aug. 17 announced positive drilling results from the Acorazado-1 well located on the 100% owned and operated Llanos 25 block onshore Colombia. As a result, the well is being cased in preparation for testing.

Kosmos Energy, Pontoenoe, Andy Inglis, Andrew Inglis, Tullow, John Christmann, Guyana oil and gas, Suriname, Exxon Mobil, Apache

The Guyana-Suriname Basin has an estimated resource potential of more than 13 billion barrels of oil, according to the U.S. Geological Survey.

Production

Amerisur Resources Plc said Oct. 3 that the T sand interval at the Pintadillo-1 discovery has flow tested under natural flow at 590 barrels per day of oil of 30.4 degrees API oil under choke of 18/64-inch with strong wellhead pressure of 110 psi.

The increase in production next year will be helped by the launch of platforms P-67 and P-69, which should go online in 2019, according to Cristiano Pinto da Costa, Shell’s general manager for the Lula, Sapinhoa, Iracema and Lapa fields.

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Sept. 24.

The company plans to raise its Brazilian output to between 300,000 and 500,000 barrels of oil equivalent per day (boe/d) by 2030, from 90,000 boe/d today by developing new fields, including the giant Carcara discovery.

Oil and gas production in the Campos Basin, where activity began about 40 years ago, has fallen by a third over the last seven years to 1.3 million boe/d,

Technology

The state oil company was the initial epicenter of that probe, which found evidence that political appointees on its board and elsewhere handed overpriced contracts to engineering firms in return for illicit party funding and bribes.

The company has plowed big money into Brazil to replenish its dwindling reserves, starting with an oil auction in September 2017.

Petrobras has awarded Aker Solutions a contract, on Sept. 18, to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil.

Total E&P Activités Pétrolières has exercised its option to acquire a 25% working interest in the Orinduik Block, offshore Guyana, from Eco Atlantic (Guyana) Inc., the company said on Sept. 13.

Ecopetrol said production at wells had not been affected, though 19 drilling rigs had been halted.