Norwegian authorities performed a search and seizure of Sevan Drilling’s offices last week, after corrupt activities between Sevan Drilling and Brazil’s Petróleo Brasileiro (Petrobras) were exposed in an independent external review conducted by Sevan Marine…
Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The Brazilian national said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir…
Petrobras has further revised down its investment plans for 2015 and 2016, opting to cut US$3 billion in spending in 2015, and $8 billion in 2016, the Brazilian state-owned firm announced on 5 October. In June, embattled operator approved a new five-year investment plan for 2015-2019…
Brazil’s Petróleo Brasileiro (Petrobras) discovered high-quality light oil potential at the third well in the Carcará pre-salt discovery area offshore São Paulo. Carcará map. From Petrobras. The third well…
Brazil will need to drill around 300 development wells in deepwater in order to sustain and reach its production target. Douglas Westwood’s Mark Adeosun takes a look at what is at stake. The Cidade…
Global rig provider Transocean is the latest to be named in the Petroleo Brasileiro SA (Petrobras) corruption scandal Lava Jato, after a Petrobras former executive testified to receiving payments from a Transocean representative. The Sedco Express…
A hike in Petróleo Brasileiro’s (Petrobras) average production in oil and natural gas, in addition to pre-salt for the month of August set historic records for the Brazilian giant. Oil. Image from Petrobras…
Operation Car Wash is the exposure of widespread corruption in Brazil following a federal police investigation into money laundering through a petrol station chain. The core element of this is how collaboration agreements between the accused…
Amidst its international corruption investigation, Petrobras terminated its US$1.6 billion contract with Vantage Drilling for the use of the Titanium Explorer ultra deepwater drillship citing a breach in Vantage’s obligations under the contract…
The “Lava Jato” scandal, which US-based global energy law firm Mayer Brown is calling the “largest corruption investigation in the world,” has taken an economic toll on Petroleo Brasileiro SA (Petrobras), and is creating several business opportunities…
Petrobras has begun production at the Iracema Norte development, in the Lula field of the pre-salt Santos basin, just less than 30 days after the FPSO Cidade de Itaguaí arrived at the field, the Brazilian national confirmed on 31 July. Cidade de Itaguaí…
The Petroleo Brasileiro SA (Petrobras) Lava Jato scandal is in the forefront once again as the Brazil state-run company confirmed the findings of contract irregularities; convictions were handed down to three former executives in connection with the scandal…
Brazilian prosecutors presented formal charges against Marcelo Odebrecht, CEO of Brazil's largest construction firm Odebrecht SA; Otavio Marques Azevedo, CEO of Andrade Gutierrez; and 20 others on Friday 24 July with charges of corruption…
Embattled Brazilian state-owned energy firm Petrobras has approved a new five-year investment plan for 2015-2019, which slashes total investments by 41% from last year’s estimates, the company announced on 29 June. Last year, the company announced it planned a total capex of US$220…
Petrobras has long been a pioneer in the adoption and deployment of deepwater technology. This has enabled them to build huge reserves of some 16 billion bbl. Converting these reserves to production, however, is another matter and Petrobras has a history of setting ambitious targets…
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