Offshore South America News

Guyana Seeking Partner to Market Its Oil

Feb 26, 2020

Guyana's government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December.The government is entitled to a share of the oil produced…

Petrobras Expects Dip in Oil Exports on Offshore Maintenance Works

Feb 21, 2020

Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday.On a conference call to discuss the firm's fourth-quarter results…

EMGS Looking at Options After Pemex Says No More Work to Be Awarded

Feb 20, 2020

Norwegian marine survey company EMGS is looking at options after Mexico's Pemex said it wouldn't award any more work 'in the medium future' under a contract announced in 2019. EMGS expects the decision will have a 'material detrimental effect' on its business…

Petrobras Misses 4Q Estimates, Posts Record Full-Year Profit

Feb 20, 2020

Brazilian state-run oil firm Petrobras missed fourth-quarter expectations, but posted a record profit for 2019, as the firm's strategy of focusing on deepwater production and exiting non-core activities shows signs off paying off.In a securities filing on Wednesday…

Brazil Breaks Oil Output Record in January

Feb 19, 2020

Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138…

Guyana Produced 35,607 bpd in December

Feb 19, 2020

Guyana produced 35,607 barrels per day (bpd) of oil in December, following the inauguration of production in the country by a consortium led by U.S. oil major Exxon Mobil Corp, the finance ministry said in a report.Exxon has discovered more than 8 billion barrels off the coast of Guyana…

Karoon's Marina-1 Well Offshore Peru Disappoints

Feb 17, 2020

Karoon Energy's Marina-1 deepwater exploration well, in the Z-38 license offshore Peru, has come up dry and will be plugged and abandoned.Tullow, Karoon's partner in the project said Monday that the well had reached Total Depth 'and has not encountered significant hydrocarbons…

ExxonMobil, Noble Corp. in Guyana Drillship Pact

Feb 12, 2020

The U.S. oil major ExxonMobil has signed a framework agreement with offshore drilling contractor Noble Corporation to extend the contracts for the three drillships currently operating for Exxon in Guyana, and potentially add more work and more rigs…

Total CEO Dismisses Tullow Takeover Idea

Feb 11, 2020

Total Chief Patrick Pouyanne dismissed the idea it might buy its partner in East Africa and Guyana, Tullow Oil, whose share price slumped to 19-year lows in December over a string of bad news, stoking takeover speculation.Total is a partner…

Favorable Ruling for Petrobras in Sete Rig Case

Feb 11, 2020

Brazilian oil company Petrobras has informed that an arbitration tribunal has ruled in its favor in a case related to the Sete Brasil rig orders.Petrobras said that the arbitration tribunal rejected a claim made by an investor in Sete Brasil Participações S…

Long-Term Deal with Petrobras for Constellation's Offshore Rig

Feb 11, 2020

Brazilian offshore contractor Constellation has won an offshore drilling rig contract with Petrobras.Constellation said last week that Petrobras had hired its Atlantic Star semi-submersible drilling rig.In a LinkedIn post, the offshore drilling…

Karoon's Peru Well Hits Non-Commercial Gas Volumes. Drilling Continues

Feb 11, 2020

Australia's Karoon Energy has said that it has encountered water-bearing sands and non-commercial gas shows at the shallower sections of its Marina-1 well offshore Peru.Prior to the start of drilling late in January, Karoon had said that the…

Petrobras Breaks Oil Output Record, Boosted by Pre-Salt

Feb 11, 2020

Brazil's Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday…

Guyana to Agree to Oil Prices with Exxon Before Govt's First Export

Feb 11, 2020

Guyana is aiming to complete talks with the Exxon Mobil Corp-led consortium producing oil off its coast over crude pricing, lifting costs, and scheduling before the government exports its first cargo, energy director Mark Bynoe said on Monday…

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