(Reuters, 31.Jan.2020) â Oil firms Equinor and Shell have signed a preliminary agreement with Argentina state energy firm YPF to acquire an additional 11% participation in the Bandurria Sur region of the vast Vaca Muerte shale field, YPF said on Friday. Vaca Muerta, which covers an area about the size […]
Tag: Equinor
Equinor Strengthens Presence In Vaca Muerta
(Equinor, 31.Jan.2020) â Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentinaâs NeuquĂ©n province. The consideration for each partner for their 24.5% interest is $177.5mn. The block covers around 56,000 gross acres in the […]
Schlumberger Completes Sale Of Bandurria Sur
(Schlumberger, 31.Jan.2020) â Schlumberger announced today that it has completed the sale of its 49% interest in the Bandurria Sur Block in NeuquĂ©n, Argentina to Shell Argentina S.A. and Equinor. YPF will continue as operator of the block. This divestment covers all of Schlumbergerâs interest in the Bandurria Sur shale […]
Equinor Awards FEED Contract For Bacalhau Field
(Schlumberger, 30.Jan.2020) â Schlumberger announced an award to Subsea Integration Alliance of an exclusive contract by Equinor for the front-end engineering design (FEED) on its Bacalhau (formerly CarcarĂĄ) project offshore Brazil. The contract scope brings together field development planning, project delivery and total life cycle solutions under an extensive technology […]
YPF Deepens Partnership With Equinor And Shell
(Energy Analytics Institute, Aaron Simonsky, 31.Jan.2020) â The presidents of YPF, and European companies Equinor and Shell meet to discuss the scope of signed agreements and plans for the development of the Bandurria Sur Block. Executives participating the discussions included: YPF President Guillermo Nielsen, Equinor President Nidia Ălvarez Crogh, Shell […]
Equinor Awarded Brazilian Contracts
(Equinor, 30.Jan.2020) â Equinor has, on behalf of the partners ExxonMobil and Petrogal Brasil entered into Front End Engineering and Design (FEED) contracts with early commitments and pre-investments for phase 1 of the Bacalhau (formerly CarcarĂĄ) area in Brazil. Contractors have been selected for both the SURF (Subsea, Umbilical, Risers […]
IOCs To Press On With Vaca Muerta Projects
(S&P Global Platts, 27.Jan.2020) â Equinor, Shell and Total vowed to press on with projects in Vaca Muerta, even as policy uncertainty and price controls make it harder to plan investment in Argentina’s biggest shale play, raising concerns of a slowdown in oil and natural gas production growth. Representatives of […]
COSAN Seeks Permits For Alternative Route 4
(S&P Global Platts, 6.Jan.2020) â Brazil sugar and ethanol group Cosan applied for environmental permits to build a second tranche of the Route 4 offshore natural gas export pipeline in a move that would add much-needed transportation capacity and boost oil and gas output from subsalt fields, according to documents […]
Equinor Says Brazil ‘Hotspot’ Of Int’l Efforts
(Reuters, 26.Nov.2019) â Norway’s Equinor plans to drill 30-40 oil and gas exploration wells globally in 2020, similar this year, with Brazil being a “hotspot” of its international efforts, the company’s exploration head said on Tuesday. The company will drill about 20-30 exploration wells on the Norwegian continental shelf, focusing […]
Petrobras And Equinor Ink NatGas Value Chain MOU
(Petrobras, 9.Oct.2019) â Petrobras, following up to the Strategic Partnership signed on 12/18/2017, celebrated a Memorandum of Understanding (MOU) with Equinor ASA â Equinor, a company based in Oslo (Norway), focused on the joint development of businesses related to the value chain of natural gas produced from the partnership projects. […]
Surinameâs 14 Active PSCs With IOCs And NOCs
(Energy Analytics Institute, 3.Oct.2019) â Suriname has 14 active production-sharing contracts (PSCs) with companies from Apache and Total to Petronas and ExxonMobil. The PSCs grant contractors the authority to operate in the respective block on behalf of Surinameâs state oil and gas company Staatsolie. An overview of the active PSCs, […]
Equinor Signs Deal With YPF
(Zacks Equity Research, 22.Aug.2019) â Equinor ASA recently announced the signing of a deal with the Argentine energy company, YPF Sociedad AnĂłnima YPF, to jointly conduct exploration activities in the CAN 100 Block. The offshore prospect â acquired by YPF Sociedad in May â is located in the North Argentinian […]
Argentinaâs Energy Secretariat Meets With Governors, Companies
(Energy Analytics Institute, Aaron Simonsky, 20.Aug.2019) â Argentinaâs Energy Secretariat Gustavo Lopetegui held a meeting in provinces with governors and oil company executives to discuss recently announced freezes to oil and fuel prices. This was the first such discussion in which the Argentine government sought to establish joint dialogue with […]
PDVSA Partners Fear Latest U.S. Sanctions: Sources
(Reuters, Luc Cohen, 14.Aug.2019) â Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt their operations, three industry sources said. The Trump administration last week froze all Venezuelan government assets in the United States […]
Argentina Awards 18 Exploration Areas Offshore For $724 Million
(Energy Analytics Institute, Aaron Simonsky, 17.May.2019) â Argentinaâs Energy Secretariat awarded 18 areas corresponding to the first International Offshore Public Competition, the countryâs Finance Ministry announced May 17 in an official statement. The crude oil and natural gas exploration areas offered cover three basins of the Argentine continental shelf. Companies […]
Equinor Boosts Stake In Caesar Tonga Field In Deepwater US GOM
(Equinor, 13.May.2019) â Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinorâs interest from 23.55% to 46.00%. Anadarko remains the operator with a […]
Chevron Stayed In Venezuela Long After Rivals Quit
(Wall Street Journal, Kejal Vyas and Bradley Olson, 8.Nov.2018) â For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela. But recently, executives at the last U.S. oil major in the country have debated whether it may be time to get out, […]
Mexico Must Double Oil Exploration Spending to Halt Output Fall: Pemex
(Reuters, Marianna Parraga, David Alire Garcia, 28.Sep.2018) â Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday. […]
Equinor and Petrobras Sign Brazilian Offshore MOU
(WindPowerOffshore, Craig Richard, 28.Sep.2018) â State-owned oil majors Equinor and Petrobras have signed a three-year memorandum of understanding (MoU) to develop the country’s offshore wind sector. The two companies have already been investigating other potential areas of cooperation, including the development of renewable energy projects, they stated. Petrobras has four […]
Petrobras, Equinor Ink 3-Year Deal for Wind Energy Projects
(Reuters, 26.Sep.2018) â Norwayâs Equinor ASA and Brazilâs Petrobras agreed to jointly seek out offshore wind projects together for the next three years, executives from the two companies said on Wednesday. Equinorâs Executive Vice President Anders Opedal and Petrobrasâs Chief Strategy Officer Nelson Silva did not offer details on the […]
Peregrino Module Sails to Brazilian Platform
(Energy Voice, David McPhee, 31.Jul.2018) â Watch as Equinorâs Peregrino modules set sail en route to the platform in Brazil to begin Phase 2 of the project. Watch: Equinor Peregrino modules sail to Brazilian platform The modules for the drilling facility have already been delivered but will now undergo stacking […]
Petrobras Targets China with New Crude Oil
(Reuters, Florence Tan and Alexandra Alper, 27.Jul.2018) â Brazilâs state-controlled energy company Petrobras plans to push more crude oil to top importer China by marketing a new medium-sweet grade that could be shipped from October, two sources with knowledge of the matter said. Petrobras expects to start pumping pre-salt oil […]
Petrobras Output in Campos Drops
(Reuters, Marta Nogueira, 17.Jul.2018) â Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data. Output has dropped 15.8 percent […]
Uncertainty Looms Large Over LatAm Oil
(Oilprice.com, Tsvetana Paraskova, 20.Jun.2018) â While oil industry analysts and market participants are watching Venezuela closely for clues about how low its oil production will go, several other countries in Latin America are holding key elections this year, elections that will no doubt shape the countriesâ short and medium-term oil […]
The insignificance of Venezuelaâs 342-year R/P ratio
(Energy Analytics Institute, Pietro D. Pitts, 24.May.2018) â Venezuelaâs reserves-to-production or R/P ratio was a remarkable 342 times in 2016 based on reserves of 300.9 billion barrels and production of 2.41 million barrels per day (MMb/d), according to BPâs Statistical Review of World Energy. Today, in a best-case scenario, Venezuelaâs […]
Statoil Strengthens Its Position In Uruguay
(Statoil, 15.Feb.2016) â Statoil has signed a farm-in agreement with Tullow to acquire a 35% working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay. “With this transaction, we are increasing our exposure to the upside potential of this untested geological setting. This is […]