Rio Oil And Gas News

 

Brazil: Petro Rio Finds Oil in Maracanã Prospect Near Valente FPSO

May 09, 2023

Brazilian oil company Petro Rio said Tuesday it had found evidence of oil in the Maracanã prospect (3-PRIO-1-RJS well), which is located 6km southwest of Valente FPSO (ex-Frade FPSO).The primary target (Eocene sandstone), presented a column of 36 meters of oil…

Petro Rio Brings Online MUP5 Well at Frade Field Off Brazil

Mar 02, 2023

The Brazilian oil company Petro Rio on Wednesday announced production start-up for the MUP5 well in the Frade offshore field in Brazil.Petro Rio said that the stabilized initial production of approximately 8,000 barrels of oil per day, above original projections…

Brazil Govt Will Promote Recovery in Shipbuilding, Oil & Gas, President Lula Says

Feb 07, 2023

Brazilian President Luiz Inacio Lula da Silva said on Monday his government would promote recovery in the country's shipbuilding and oil and gas sectors, with more investment from state-run oil firm Petrobras SA  and development bank BNDES. 'Petrobras…

Petro Rio Set to Take Over Petrobras' Campos Basin Field as $1,63B Paid

Jan 26, 2023

Brazilian oil and gas company Petro Rio (Prio) on Thursday paid $1.635 billion to Petrobras in relation to the acquisition of Petrobras' interest in the Albacora Leste offshore field, located in the Campos Basin, Brazil.The amount paid Thursday is in addition to the $292…

Petro Rio to Buy TotalEnergies' Stake in Itaipu Field

Sep 26, 2022

Brazilian oil company Petro Rio has signed a deal with TotalEnergies for the acquisition of a 40% interest in the BM-C-32 Block (“Itaipu Field” or “Itaipu”).Together with the 60% interest in Itaipu acquired from BP in July 2021, this transaction…

Petro Rio Buys Petrobras' Albacora Leste Offshore Oil Field for $2.2 Billion

Apr 28, 2022

Brazil's state-run oil company Petrobras said on Wednesday its board has approved the sale of its stake in the Albacora Leste oilfield to Petro Rio SA for $2.2 billion.The oil giant, formally known as Petroleo Brasileiro SA, said the sale was…

Brazil: PetroRio Cancels Manati Field Stake Sale Agreement with Gas Bridge

Apr 20, 2022

PetroRio has terminated the proposed sale of its stake in the Manati field in Brazil to Gas Bridge.The companies had signed a sale and purchase deal (SPA), however, PetroRio said Wednesday it had formally notified Gas Bridge S.A. of the SPA termination…

Courts Suspend Petrobras Natgas Price Hikes

Dec 29, 2021

Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities…

Petrobras: Binding Phase Starts for Sale of Santos Basin Offshore Fields

Oct 29, 2021

Brazil's state-controlled oil company Petrobras said on Wednesday it has entered the binding phase for the sale of its stakes in the Urugua and Tambau fields in the Santos basin.The two fields belong to the BS-500 concession and are located in the north of the Santos Basin…

Petrobras Looking to Sell Uruguá and Tambaú Fields in Brazil

Sep 08, 2021

Brazilian oil firm Petrobras is looking to sell its stake in the Uruguá and Tambaú field in the Santos Basin, offshore Brazil.The company on Wednesday launched the opportunity disclosure stage, a so called teaser, for the potential sale of the…

Petrobras Exits Lapa Offshore Oil Field

Sep 02, 2021

Brazilian oil company Petrobras has sold its remaining stake in the Lapa offshore oil field in Brazil's Santos Basin to the French oil firm TotalEnergies.The Brazilian national oil company said Wednesday said that the deal was concluded with the payment of $49…

Brazil: Petrobras Starts Production from FPSO Carioca in Sepia Field

Aug 24, 2021

Brazilian oil firm Petrobras said Monday it had started producing oil and gas from the FPSO Carioca, the first FPSO in the Sépia field, located in the Santos Basin pre-salt, offshore Brazil.The Carioca FPSO is located around 200 km off the coast of the state of Rio de Janeiro…

Petrobras Finds 'Excellent Quality' Oil at Buzios Field Well

Dec 24, 2020

Brazilian oil firm Petrobras has said it has confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin, offshore Brazil.The well is located 188 km from the…

Petrobras Takes DOF AHTS on a Three-year Charter

Dec 09, 2020

Brazilian oil and gas company Petrobras has awarded a contract for DOF Group's AHTS vessel Skandi Rio.DOF said Thursday that the vessel would support Petrobras' exploration and production activities on the Brazilian continental shelf. The vessel…

Petrobras Selling 50% Stake in Marlim Cluster Offshore Brazil

Nov 16, 2020

Brazilian oil and gas company Petrobras has launched an opportunity disclosure stage (teaser) for the sale of 50% of its stakes in the offshore oil fields - known as the Marlim Cluster - in the Campos Basin, offshore Brazil.Petrobras is looking to sell stakes in the deepwater concessions of Marlim…

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