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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 promise of big discoveries offshore South America is set to continue for years to come.
The company is working to extend the life of the field, increase its recovery factor and avoid premature decommissioning.
Developers of the field, located in the North Falkland Basin, hope to sanction the first phase of the project by year-end 2018 as costs fall.
Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.
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.
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.
The new wells will join nine which are already operating at the field.
Echo Energy Plc has commenced drilling on its first exploration well in a four well back-to-back campaign in the company’s Fracción C asset, onshore Argentina, the company said on May 9.
GeoPark Ltd. (NYSE: GPRK) said on Jan. 17 it has successfully completed the drilling and testing of the Uaken 1 exploration well in the Fell Block in Chile.
Natural gas is targeted for domestic production while heavy oil could maintain or increase Venezuela's output for exports.
Due to the field’s high production potential, four more production units will be destined for this field between 2018 and 2021, the company said.
The natural gas treatment plant project worth nearly US$600 million is of "great significance" to the development of oil and gas for Petrobras pre-salt, according to the company press release.
Investment and development activity picked up speed in 2017.
Karoon has been talking to suppliers to contract an FPSO unit for the field.
With assets in Peru and Brazil, Australia’s Karoon has been progressing developments within South America’s oil and gas segment. Yet, Brazil is seen as a very strategic country for the company.