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Karoon has been talking to suppliers to contract an FPSO unit for the field.
Shell Brazil CEO André Araújo talks about the company’s plans and expectations for its future in Brazil’s oil and gas segment.
A recent surge of interest is putting the country on the radars of major oil and gas companies.
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.
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.
Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.
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.
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.
Natural gas is targeted for domestic production while heavy oil could maintain or increase Venezuela's output for exports.
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.