Exclusives

The carbon capture and sequestration project focuses on Brazil’s Santos and Paraná basins.

Brazil oil and gas workers, oil jobs, offshore oil and gas, E&P

The E&P sector is among the areas expected to see a hiring boost with 44 offshore production systems scheduled to start operating in Brazil by 2030, a study shows.

The program aims to reduce capex and opex for production offshore in areas such as subsea systems, surface systems, processing and construction, starting with 39 R&D projects.

An RCP/Wintershall venture examines usefulness of multicomponent data.

Argentina oil and gas, Argentina offshore licensing round, Juan Jose Aranguren, Horacio Cuenca, Vaca Muerta, shale

The country’s offshore auction is risky but offers opportunities for major oil companies, analyst says.

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

Brazilian state-controlled oil company Petróleo Brasileiro SA (NYSE: PBR) is close to agreeing the sale of its stake in an African venture for around $1.3 billion, newspaper Valor Econômico said on July 10.

Echo Energy Plc said July 9 it has successfully completed the drilling of the CSo-2001(d) well in which a notable gas column has been interpreted from the wireline logging suite.

This transaction will enable Equinor and its partners to fully align interests across the two licenses for the Carcará area.

State-run Brazilian oil company Petrobras is working to sell $21 billion in assets over a two-year period to reduce its debt.

U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on June 21.

Production

The projects, known as Liza Phase 1, include the conversion of an oil tanker into a FPSO vessel, which would have a production capacity of 120,000 bbl/d of oil.

The French oil major wants to explore Brazil’s Foz do Amazonas Basin, but Brazil's environmental agency rejected its license application on May 29 for a fourth time.

The promise of big discoveries offshore South America is set to continue for years to come.

Tullow had planned an initial investment of $200 million to develop the offshore blocks off of Peru’s northern coast, according to Perupetro.

Echo Energy plc said May 18 it has successfully completed the drilling of the ELM-1004 exploration well at the company’s Fracción C asset, onshore Argentina and a gas discovery for the first well in its four well exploration campaign.

Technology

This contract for subsea services covers components for both the subsea equipment and flexible pipelines.

Brazil's state-controlled oil company Petrobras has been fined $622 million by an international tribunal for breaching a 2009 contract with a unit of Vantage Drilling.

Grisolia, who served since August 2017 as CFO of Petrobras Distribuidora, Petrobras’ fuel distribution unit, was named to serve until March 2019.

Under the TechnipFMC/DOF JV agreement, TechnipFMC will manage flexible pipelay, and DOF will be responsible for marine operations.

La Rosa’s appointment comes after a tense showdown between foreign oil companies and the government in recent months as Venezuela’s political and economic meltdown deepened.