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As Brazil’s offshore segment flourishes, onshore opportunities have not gained much attention. But the Brazilian government is working to make its onshore assets more attractive.
Investment and development activity picked up speed in 2017.
The 15th bidding round on March 29 raised more than 8 billion reais (US$2.42 billion) in signature bonuses.
The author of the bill that would end Repetro in Rio de Janeiro said the move would only exempt taxation of imported oilfield equipment during the exploratory phase of projects.
FlatFish is an AUV dedicated to the inspection of subsea structures and pipelines.
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 bids had been scheduled to be received April 5. The change, announced by the National Hydrocarbons Agency (ANH) late on April 4, marks the fifth time the auction for the 15 crude and gas areas in the country’s northwest has been rescheduled.
ExxonMobil along with Petrobras and Qatar Petroleum shelled out 2.8 billion reais (US$844 million) for a block in Brazil’s offshore Campos Basin.
Oil Secretary Marcio Felix said the government would seek to undo the decision, without providing details. But he said success was unlikely before the round on March 29, which will grant companies concessions to explore and produce in the areas.
Resolving the spat would let the cash-strapped government, which is expected to be ousted in October elections, raise extra revenue to close a huge budget gap by selling the rights to billions of barrels of oil.
André Araújo talks about the company’s plans and expectations for its future in Brazil.
Overall investment will eventually reach an estimated $800 million with additional expansions planned.
The government hopes to raise output by about 15,000 bbl/d.
Petro cryptocurrency raises doubts and US hints that it might violate sanctions.
For a second month, a Reuters survey showed no sign of big OPEC producers boosting output significantly to cash in on rallying prices or to replace a decline in Venezuela.
Karoon has been talking to suppliers to contract an FPSO unit for the field.
The Lisama 158 well, which was in the process of being shut down because of low production, leaked crude into a ravine over a three-week period, contaminating the water and affecting animal and plant life.
Richard Herbert, formerly of BP, will replace Barry Larson as the CEO of Canada's Frontera Energy.
Even as ExxonMobil and other companies in recent years have left Venezuela, Chevron has stayed and has consistently said its operations there are fine.
According to the Brazilian major, the company’s PLSV fleet might have 16 vessels by year-end, two less than what were under contract in 2017.
The company has studied geological data and is ready to cooperate in arrangements for various assets in Brazil, as is customary in the oil and gas industry, Wintershall CEO Mario Mehren