Exclusives

Karoon South America General Manager Tim Hoskings, Brazil oil and gas, subsea oil and gas, Echidna oil field

Karoon has been talking to suppliers to contract an FPSO unit for the field.

Shell Brazil, Shell Brasil, André Araújo, Royal Dutch Shell, Brazil oil and gas, Brazil oil production, E&P

Shell Brazil CEO André Araújo talks about the company’s plans and expectations for its future in Brazil’s oil and gas segment.

Bolivia natural gas, Evo Morales, gas production, gas export

A recent surge of interest is putting the country on the radars of major oil and gas companies.

Brazil, China, investment, oil and gas

In 2016 China invested $7.18 billion, nearly 80% more than the U.S. invested, in Brazil. The amount of China’s investment is expected to rise in 2017.

Brazil, natural gas, Gazprom, investment

Natural gas activity in Brazil is expected increase over the next few years with new players and more investments as the government works to change policies.

Drilling

Amerisur Resources Plc provided an update on Platanillo-27, the fourth well on Pad 2N, in the northern extension of the Platanillo Field on Dec. 14.

Petrobras has asked Odebrecht’s offshore drilling arm to halt operations of a rig, according to a document seen by Reuters on Nov. 6, after an explosion there killed three people in June.

Indigenous villagers ended a 43-day protest that had halted production in Peru’s largest oil block after signing a deal with the government, tribal leaders and officials said on Oct. 31.

Colombia_Land_Oil_Drilling

South America boasts plenty of unconventional prospects for local and foreign players to develop over the coming years, by some estimates, shale resources may amount to four times Colombia’s total reserves.

Efficiencies have pushed break-even prices to below $40 per barrel, a significant gain for Argentina, which has struggled to attract capital since crude prices started to decline in 2014.

Enhanced Oil Recovery

Field Development

The deal announced Dec. 18 fits Statoil’s strategy of bolstering its presence in Brazil as it seeks to add new barrels which are becoming more difficult to obtain closer to home on the Norwegian Continental Shelf.

The FPSO unit will process up to 180,000 barrels per day of oil and 12 million cubic meters of gas, Petrobras said. Production is forecast to begin in 2021.

Libra, which has recoverable volumes estimated by oil regulator ANP at between 8 billion and 12 billion barrels, is located in the high-yield region off the coast of Rio de Janeiro.

A more realistic, safer and economically efficient industry was among the topics of discussion at the OTC Brasil 2017 Conference.

South America-focused GeoPark signs joint venture agreement with CEPSA SAU for Tiple Block acreage.