Brazilian giant Petróleo Brasileiro (Petrobras) entered into a US$2 billion deal with the Industrial and Commercial Bank of China Leasing (ICBC) for a finance lease on two existing platforms. Image from Petrobras…
Brazil’s National Agency of Petroleum (ANP) held the 13th Bidding Round for exploratory blocks yesterday (7 October) that almost mirrored Mexico’s Round One, in that the ANP was only able to sell 37 out of the 266 blocks offered. Brazil's 13th round…
Due to continued challenging market conditions, Athens, Greece-based rig provider Ocean Rig announced that if no future work is found for two of its fifth generation ultra-deepwater semisubmersible rigs – the Eirik Raude and Leiv Eiriksson – they could be scrapped…
Mexican state owned company Pemex this morning announced it had evacuated the Sihil-A platform in the Bay of Campache, offshore Mexico, in the latest of a string of incidents offshore Mexico this year. The firm said the measure was taken…
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…
Honeywell's Spectra fiber will be used in ropes for new offshore oil and gas platforms for Petrobras, the company announced on 5 October. The high-performance fiber, also used extensively in body and vehicle armor, is being incorporated…
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…
Brazil’s deepwater offers huge opportunities, but also big technology challenges. The Industry Technology Facilitator’s Paddy O’Brien and Arthur Braqa explain. Images from ITF. Offshore…
The safe installation of the first tension-leg wellhead platform offshore Brazil could pave the way for future similar developments, says DNV GL’s Mike Roberts and David Ryan. Chevron’s Papa Terra facility offshore Brazil…
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…
Shreeram Lom, Aaron Rampersad, and Juan Martínez, of Repsol, discuss the Perla field development, which came online offshore Venezuela in July. Fig. 1: Topside. Images from Repsol. The Perla field…
Today, deepwater reserves are a key part of the world’s oil and natural gas needs, accounting for roughly 11% of global production. Over the past five years, two-thirds of discoveries occurred in deepwater, and Brazil has been the preeminent site of this trend…
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…
SBM Offshore's main Brazilian subsidiary has received written notification from Petrobras of its ability to participate in the recently issued Libra and Sépia FPSO tenders in Brazil. This follows a thorough review of the group’s compliance standards by Petrobras…
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…
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