Brazilian oil company PetroRio has received regulatory approval to drill new wells at the Frade field, offshore Brazil.PetroRio said that the Brazilian Institute of the Environment and Natural Renewable Resources (“Ibama”) had granted it the…
Guyana sold its first share of crude oil from the country's newest offshore production facility to ExxonMobil for about $106 million, the government said.One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads…
Oslo-listed FPSO leasing company BW Offshore has agreed to sell its laid-up FPSO Polvo to BW Energy for $50 million. BW Energy will redeploy the FPSO in Brazil.The transaction is expected to be concluded by July 24, 2023, at the latest. If the transaction is completed before the said date…
Argentina has extended a concession held by energy firms Total Austral, Wintershall Dea Argentina, and Pan American Sur for 10 more years until 2041, and approved an investment plan for $700 million, according to a government decree published on Tuesday…
Brazilian oil company Petrobras has brought online the first two wells of the increased oil recovery (IOR) project at Roncador project offshore Brazil, almost five months ahead of schedule and at half of the planned cost, Equinor, Petrobras' partner in the project…
PetroRio has terminated the proposed sale of its stake in the Manati field in Brazil to Gas Bridge.The companies had signed a sale and purchase deal (SPA), however, PetroRio said Wednesday it had formally notified Gas Bridge S.A. of the SPA termination…
French oil major TotalEnergies has been given more time to pay for its 22.5% share in the compensation for the Atapu offshore oil field, Brazilian national oil company Petrobras said Tuesday.Atapu is the block acquired by the consortium composed of Petrobras (52…
Navitas Petroleum has agreed to farm into the Sea Lion oil field development project offshore the Falkland Islands. In January 2020, Premier Oil, as the Sea Lion operator, and Rockhopper, as the partner in the project, signed non-binding heads of terms with Navitas Petroleum…
Singapore's Keppel Offshore & Marine has recently ordered the topsides turbomachinery package from Siemens Energy for the P-78 FPSO.The FPSO is owned and operated by Brazil-based Petrobras in partnership with Chinese CNOOC and CNODC and will operate in the Búzios Field of the Santos Basin…
Brazilian oil firm Petrobras has this week received R$ 5.26 billion (around $1,12 billion) from Shell for its share of 25% in compensation for the Atapu offshore block.Atapu is the block acquired by the consortium composed of Petrobras (52.5%)…
Brazilian state-run oil company Petrobras on Thursday formally elected Jose Mauro Coelho as its chief executive for a one-year term, ending weeks of turmoil in which the government struggled to fill the top position.Coelho, a government technocrat…
©Agência Petrobras - Flávio EmanuelShareholders in Brazil's Petrobras have elected José Mauro Coelho to the firm's board, according to a source with direct knowledge of the matter, paving the way for the government technocrat to take the helm of the state-run oil company…
Brazil on Wednesday granted 59 exploratory blocks of oil and natural gas to 13 companies, including Shell, TotalEnergies and 3R Petroleum.The auction totaled 422.4 million reais ($90.10 million) in signature bonus, registering a premium of 854…
Stockholm-based Maha Energy AB remains interested in purchasing Petrobras' stake in the Tartaruga oil field in northeastern Brazil after the company's first attempt at buying the asset was unsuccessful, Victoria Berg, the company's investor relations officer…
Oilfield services group Hunting has won a contract to provide titanium stress joints for ExxonMobil's Yellowtail oilfield development project in the Stabroek Block offshore Guyana.Hunting said its Direct Pull-Through installation methodology…