Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…
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…
New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…
Universal Subsea Inc. (USI) announced that its patent-pending Defender subsea isolation cap was installed to the Bulleit subsea well, operated by Talos Energy in the Gulf of Mexico at a water depth of 1,300 feet.The lightweight, thermoplastic cap was landed…
Senegal has delayed the launch of an oil and gas licensing round due on Wednesday until November 4 as contract documents still need to be finalized, oil minister Mahamadou Makhtar Cisse said.'We need to ensure the legal framework for investors…
U.S.-based Chevron Corp said on Friday it signed an agreement with a unit of Royal Dutch Shell to buy a 40% stake in three deepwater blocks in the Mexican Gulf that the Anglo-Dutch firm won in auctions under the nation's energy reform.The deal…
Oilfield services company Weatherford International announced it has secured a contract with Brazilian-based multinational corporation Petróleo Brasileiro S.A., more commonly known as Petrobras, to deliver 24 Optimax deep-set safety valves in the next four years…
Brazil's oil production in August reached 2.989 million barrels per day, up 18.5% over the same month a year ago, as monthly output hit a record high, oil regulator ANP said on Wednesday.Brazilian natural gas production in August rose 25.3% from a year ago to 133…
Royal Dutch Shell said on Wednesday that it had been informed by the U.S. Department of Justice that it had closed its inquiry into Shell over the 2011 $1.3 billion acquisition of a Nigerian offshore oilfield.Shell and Italy's Eni are both currently…
French-based geophysical services company CGG said it has delivered broadband 4D seismic results ahead of schedule from BP Angola’s latest monitor survey offshore Angola.The enhanced imaging volumes from the Greater Plutonio development in the…
Geosciences company Benthic announced it has secured an offshore geotechnical and geophysical contract from TechnipFMC for the Golfinho development, a deepwater discovery off the coast of Mozambique that will be developed as a subsea system…
Australia's oil exploration has picked up over the past year following the country's biggest find in more than two decades, and could drive a resurgence in production that has fallen to a near 50-year low.A successful hunt for liquids could eventually beef up fuel security in Australia…
Fourteen companies have been officially approved by Brazilian authorities to participate in an oil bidding round in November, in which total signing bonuses are expected to be the biggest so far, exceeding $25 billion, national oil regulator ANP said on Monday…
After a disappointing well-drilling venture offshore Namibia in the fourth quarter of 2018, Guernsey-registered hydrocarbons exploration and production company Chariot Oil & Gas has no immediate plans for additional exploration wells in this driest country in Sub-Saharan Africa…