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The Guyana-Suriname Basin has an estimated resource potential of more than 13 billion barrels of oil, according to the U.S. Geological Survey.
The carbon capture and sequestration project focuses on Brazil’s Santos and Paraná basins.
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.
The country’s offshore auction is risky but offers opportunities for major oil companies, analyst says.
The round raised roughly $829 million in signature bonuses and a commitment of $194.2 million in planned investments for exploratory work.
The promise of big discoveries offshore South America is set to continue for years to come.
Some companies are showing interest in the Potiguar Basin as Petrobras looks to sell some onshore blocks in the basin.
The company is working to extend the life of the field, increase its recovery factor and avoid premature decommissioning.
The promise of big discoveries offshore South America set to continue for years to come.
Despite the amount of money generated by sales so far, the company’s current financial situation still worries investors.