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Brazil’s Paraná, Solimões and Amazonas basins could hold about 414 trillion cubic meters of recoverable shale gas resources, according to the country’s oil and gas regulator.
With the success of ExxonMobil’s Liza discovery, Guyana and Suriname are on E&Ps’ radars again. Could a Guyana-Suriname Basin be in the future?
The latest discovery brings the estimated gross recoverable resources for the Stabroek Block to between 2.25 Bboe and 2.75 Bboe, the company said.
The special customs regime known as Repetro is set to expire in 2020. Fears are that some oil and gas projects would not be economically viable without its renewal.
By no means is Peru South America’s Qatar, but the South American country has the potential to become a natural gas development hub despite Argentina’s Vaca Muerta hype.
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 concessions are located in the Campos, Ceará, Potiguar, Santos and Sergipe-Alagoas basins.
ExxonMobil Corp. has chalked up another win offshore Guyana where its latest Payara well has hit oil, bringing the estimated gross recoverable resources for the Stabroek Block up to as much as 2.75 Bboe.
CGG said this survey in Brazil's Santos Basin will be the largest node survey ever acquired and processed in the industry.
The 30-year E&P agreements involve the areas known as Block 59, to be developed by a consortium consisting of ExxonMobil and Hess, and Block 60, to be developed by Statoil.
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.
The production from the presalt oil areas jumped to 1.353 MMbbl/d on average in June, growing 6.4% from May, according to Brazil’s oil sector watchdog ANP.
Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.
About $400 million of Pan American's investment plan is destined for oil and gas exploration in the sprawling Vaca Muerta shale formation in Argentina's southern Patagonia region.
The Brazilian state-owned company is working to increase the recovery factor at the Carmópolis oil field to 32%.
Separately, Frontera Energy said it had reached an agreement with natives of Peru's Amazon region over the development of an oil field involved in a dispute over land-use.
The company sees investment in oil projects overseas as a way to compensate for lower domestic output by adding reserves and external production to its portfolio while gaining know-how, Pemex exploration chief Jose Antonio Escalera said.
Petrobras has been authorized to export idle LNG in the spot market, according to the Aug. 9 issue of the Official Gazette.
Total crude production for the quarter, however, averaged 2.013 million barrels per day (MMbbl/d), down 7.5% compared to output during the same period last year. Pemex hit peak crude output in 2004 with 3.4 MMbbl/d.
Among the changes, the 14th round eliminates local content as criteria in the bidding process, heeding a long-standing demand of oil majors, and introduces lowers royalties for less explored areas and mature basins which pose greater risks.
Contracts signed since 2005 but before more flexible rules went into effect this year would be eligible. Content rules dictate what percent of a project’s workers and inputs have to be local in origin.