A huge Brazilian oil auction, dubbed one of the largest ever, frustrated expectations on Wednesday, as high prices and tepid demand turned the widely awaited tender into an embarrassing miscalculation for the cash-strapped government.Brazil's…
Brazil's state-run oil firm Petrobras, which dominated this week's disappointing offshore oil auctions, has no interest in farming out its Buzios block to be operated by another firm, its head of exploration and production said on Friday.Major…
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.Brazil’s biggest-ever oil auctions in November were generally deemed to be disappointing…
The Petrobras-operated P-68 floting production, storage and offloading unit (FPSO) has begun producing oil and natural gas from the Berbigão field, in the Santos Basin pre-salt, in the deep waters offshore Bazil.P-68 is the fourth unit to come into operation for Petrobras in 2019…
Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round, the largest offer of crude and gas reserves in the nation's history…
Seabed Geosolutions, a joint venture between Fugro and CGG, has completed the world’s largest deepwater proprietary 3D ocean bottom node (OBN) survey in the Santos Basin, offshore Brazil.The survey, started in late 2018, covered the Buzios field…
The head of Royal Dutch Shell Plc in Brazil said on Friday that it currently made more sense for the company to look for exploration areas.Speaking after Brazil's disappointing oil auctions this week, which Shell chose to sit out, Andre Araujo said the Buzios block…
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area…
Seabed Geosolutions has secured a letter of award to provide a 3D ocean bottom node (OBN) survey in 2,000 m of water in the Santos Basin, offshore Brazil.The 410-square-kilometer survey, which has a contract value of more than $50 million, will…
Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity.Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment…
Surging numbers of orders for floating production, storage and offloading vessels (FPSO) may already be straining the supply chain, including shipyards in Asia, a report out of the United States suggests.Around two dozen FPSO contracts are about to enter “decision gate”…
Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER).Brent oil, which had reached as high as the mid $70 range earlier this year…
Petroleo Brasileiro said on Tuesday it is interested in exercising its preferential right to tender in two areas in an auction of excess oil from the so-called 'transfer of rights' (TOR) area, according to a company filing.The Brazilian state…
Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector…
Much has been made of an expected recovery for offshore. We share that optimism. We think there will be around 20 final investment decisions (FID) for floating production, storage and offloading units (FPSO), nearly 60 subsea projects and a total of 330 trees going ahead this year…
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