(Petrobras, 16.Dec.2022) â Petrobras acquired the Sudoeste de SagitĂĄrio, Ăgua Marinha and Norte de Brava blocks in the 1st Cycle of Permanent Production Sharing Offer of the National Petroleum, Natural Gas and Biofuels Agency (ANP). Petrobras has acquired the Sudoeste de SagitĂĄrio block in partnership with Shell Brasil. The consortium […]
Tag: Petronas
Petrobras on Coparticipated Area of SĂ©pia
(Petrobras, 31.Oct.2022) â Petrobras confirms a discovery of oil in the Coparticipated Area of SĂ©pia with the drilling of well 4-BRSA-1386D-RJS, in the northwestern part of the field. The well is located 250 km south of the city of Rio de Janeiro, under a water depth of 2197 meters, and […]
Petronas Expands Strategic Alliance with YPF in Argentina
(Petronas, 1.Sep.2022) â Petronas signed a Memorandum of Understanding (MoU) with Argentinaâs largest integrated oil and gas company YPF to pursue collaboration in Argentina in an integrated LNG project and other areas, including upstream oil, petrochemicals and clean energy solutions. The MoU was formalised by Petronas President and Group Chief […]
APA Corp. Reveals First Find in Suriname Block 53; Plugs Dikkop
(APA Corp., 23.Aug.2022) â APA Corporation (Nasdaq: APA) announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58. Block 53 Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 […]
APA Corp. Finds Water at Rasper Well in Block 53 Offshore Suriname
(APA Corp., 13.Jun.2022) â APA Corporation (Nasdaq: APA) provided results from recent drilling operations on Suriname Block 53. APA Suriname, the operator, holds a 45% working interest in the block, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest. APA has completed operations on the […]
Global Energy Upheaval Offers Argentinaâs âDead Cowâ a New Lease of Life
(FT, 2.Jun.2022) â Can the EUâs ban this week on most Russian oil imports breathe new life into a dead cow in Patagonia? Argentinaâs president Alberto FernĂĄndez thinks so. He is talking up the potential of the worldâs second-largest shale gas deposit and its fourth-largest shale oil reserve to fill […]
Petrobras on Atapu and Sepia Contracts
(Petrobras, 27.Apr.2022) â Petrobras signed the Production Sharing Contract for the Surplus Volumes to the Transfer of Rights of Atapu in partnership with Shell Brasil PetrĂłleo Ltda (25%) and TotalEnergies EP Brasil Ltda. (22.5%), and a Production Sharing Contract for the Surplus Volumes to the Transfer of Rights of Sepia, […]
Maersk Drilling Secures Contract Extensions for Maersk Viking in Malaysia
(Maersk, 1.Feb.2022) â Sarawak Shell Berhad/Sabah Shell Petroleum Corporation (SSB/SSPC) has executed two options on the previously announced contract that will employ the 7th generation drillship Maersk Viking offshore Malaysia. The first option will be novated to TotalEnergies EP Malaysia for the drilling of one deepwater well at the Tepat […]
Petrobras Comments on 2021 Production, Cuts 2022 Target
(Petrobras, 14.Jan.2022) â Petrobras confirms the achievement of its production targets for the year 2021, with the following results: The highlights of 2021 were: âą the start of production from FPSO Carioca, the first platform in the SĂ©pia field, in the Santos Basin pre-salt; âą own production in the pre-salt, […]
TotalEnergies and Shell Stand Out in Brazilian Oil Auction
(Bloomberg, 17.Dec.2021) â European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazilâs state-controlled oil giant at two key fields, marking the latest expansion in Latin Americaâs largest crude producer and an important victory for President Jair Bolsonaro. TotalEnergies won stakes in both of the deepwater fields on offer Friday, […]
Suriname Energy Summit: 1-3 June 2021
(Energy Advance, 12.Apr.2021) â The Suriname Energy, Oil & Gas Summit (SEOGS) will be hosted virtually from 1-3 June 2021. The inaugural SEOGS hosted by Staatsolie is the official event for Surinameâs nascent hydrocarbons sector and looks to bring together all the major public and private sector stakeholders across the entire oil and gas value […]
Total To Continue Suriname Exploration
(Argus, 10.Mar.2021) â Total and Apache Corp. will continue their oil exploration program offshore of Suriname after ceasing drilling in one key test well upon facing “substantial pressure increases,” but only after they had already struck oil at shallower depths. The Total and Apache joint venture is attempting to turn […]
Petronas Finds Hydrocarbon In Offshore Suriname
(Petronas, 11.Dec.2020) â Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block 52 and holds 50% participating interest, together with ExxonMobil Exploration and […]
Exxon And Petronas Find Oil Offshore Suriname
(Exxon, 11.Dec.2020) â ExxonMobil and Petronas have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname, adding to ExxonMobilâs extensive finds in the Guyana-Suriname basin. The well was drilled by operator Petronas, and the discovery is being evaluated to determine its resource potential.âOur first discovery in Suriname […]
Bright Future For Suriname And Guyana
(Petroleum Economist, 2.Dec.2020) â Crumbling oil prices and volatile energy demand have tipped Latin America into a sharp recession, exacerbated by one of the worldâs worst Covid-19 mortality rates. But in Suriname and Guyana, at least, there are reasons to be cheerful. Although both countries face stark economic challenges, they […]
Heard: Petronas Spuds Well Offshore Suriname
(Energy Analytics Institute, 4.Nov.2020) â Malaysia-based Petronas and US-based ExxonMobil have commenced drilling of an exploratory well offshore Suriname in Block 52, according to sources close to Energy Analytics Institute (EAI). Prior to the start of summer, Petronasâ Vice President of Exploration Emeliana Rice-Oxley said the company would drill a […]
Petronas Announces First Gas In Oman’s Ghazeer Field
(Petronas, 12.Oct.2020) â Petronas through its subsidiary, PC Oman Ventures Ltd (PCOVL) together with its partners, BP Exploration (Epsilon) Limited and Makarim Gas Development LLC, a subsidiary of OQ, today announced the start of production from its Ghazeer gas field (Phase 2), located in Block 61, Sultanate of Oman, three […]
Petronas Boosts Accessibility To Cleaner Energy
(Petronas, 8.Sep.2020) â As part of the companyâs latest customer-centric solution to facilitate the growth of cleaner energy use across Peninsular Malaysia, Petronas recently launched the Virtual Pipeline System (VPS) solution via the Regasification Terminal (RGT) in Pengerang, Johor. The VPS solution that was developed by the Gas & Power […]
Suriname Election Soothes Investor Nerves
(Petroleum Economist, 11.Aug.2020) â The small Latin American nation of Suriname is poised for profound change. Revenues from major offshore oil discoveries announced this year could transform the countryâs long-term economic prospects. And, following the resolution of an election deadlock, a new coalition government has finally wrenched power from strongman […]
Petronas New Energy Teams Up with Nefin Group
(Petronas, 20.Jul.2020) â Following the launch of its first solar rooftop solution, M+ by Petronas last year, Petronas New Energy is now set to grow in the domestic renewable energy space with its first commercial customer, Tesco Stores (Malaysia) Sdn Bhd (Tesco). In delivering its commitment to Tesco, Petronas New […]
Suriname Closes Oil Drilling Deal For Later This Year
(Stabroek News, 10.Jul.2020) â Having gone almost entirely unnoticed in the global oil & gas industry for decades, both Guyana and neighbouring Suriname are now claiming their respective shares of the global spotlight. With the US company ExxonMobil having begun to recover and export oil from the now well-known Stabroek […]
Maersk Awarded Deal Offshore Suriname
(Evercore ISI, 30.Jun.2020) â Maersk Drilling announced the 6th-Gen Maersk Developer was awarded a one-well exploration contract from Petronas for offshore Suriname. The $20.4M backlog includes integrated drilling services and mobe & demobe fees, which implies an all-in dayrate of $267kpd for an estimated 75 days. Notes DRLCO COO Morten […]
Maersk In Exploration Deal For Petronas
(Maersk, 29.Jun.2020) â Maersk Drilling has secured a contract for the semi-submersible rig MĂŠrsk Developer which will be employed by Petronas Suriname Exploration & Production B.V. for a one-well exploration campaign in Block 52 offshore Suriname. The contract is expected to commence in Q3/Q4 2020, with an estimated duration of […]
The Oil Nation Aiming To Emulate Guyana’s Success
(Oilprice.com, 20.Jun.2020) â Paths to economic development might vary, ranging all the way from ruthless dictatorships hewing their way with an iron fist to established democracies laboring towards the well-being of its constituents. In terms of swift decision-making and efficiency, 20th century empirical data would rather tilt towards dictatorships with […]
Suriname Beckons Oil Drillers Ahead Of Poll Result
(Argus, 3.Jun.2020) â Suriname is edging closer to a change of government that could pave the way for expanded offshore oil exploration. The South American country is hoping to emulate neighboring Guyana, where ExxonMobil started oil production from the deepwater Stabroek block in December 2019. Suriname’s current production is limited […]
NOCs To Slash Exploration Budgets
(WoodMac, 20.May.2020) â National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie. The analysis is based on announcements and tracking well plans of 11 top spending NOC explorers, including three Chinese NOCs, PTTEP, PETRONAS, ONGC, Qatar Petroleum, […]
Korean Delegation Visits Vaca Muerta Formation
(Energy Analytics Institute, 19.May.2020) â Korean Ambassador Jang Myung-soo visited the Loma Campana field, where production comes from the Vaca Muerta formation, together with personnel from state controlled YPF, as well as officials from the Ministry of Energy and the Secretary of State (COPADE). The officials toured different points of […]
Petronas Farms Down 50% In Block 52 to Exxon
(Petronas, 19.May.2020) â Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent participating interest in Block 52, offshore Suriname. Block 52 is located […]
Ecopetrol Exploration Activities Update
(Ecopetrol, 30.Apr.2020) â It is the first link in Ecopetrolâs value chain. Its main objective is to explore, discover and appraise commercially viable hydrocarbon accumulations, seeking to ensure the reserve replacement required for the sustainability of the Ecopetrol Group. To centralize, unify and manage hydrocarbon exploration activities, Ecopetrol has an […]
YPF Reports Record One Day Fractures
(Energy Analytics Institute, Aaron Simonsky, 18.Mar.2020) â Argentinaâs state oil company YPF announced positive results in regards its development of the countryâs Vaca Muerta unconventional resources located in the NeuquĂ©n Basin. YPF carried out 12 fracture stages in one day, which constitutes a new milestone for the company’s unconventional operations […]
Asia Pacific Gas, LNG: 6 Themes To Watch In 2020
(WoodMac, 13.Jan.2020) â Wood Mackenzie has identified six themes that will impact Asia Pacificâs gas and LNG markets in 2020. Asian LNG spot prices to fall further In 2019, the global LNG market relied heavily on Europe to absorb excess supply. Surging new LNG production from US and Australian projects […]
Petrobras On Sale Tartaruga Verde And Module III
(Petrobras, 30.Dec.2019) â Petrobras following up on the press release disclosed on 27 December 2019, reaffirms that the total value of the sale of 50% of exploration and production rights of the Tartaruga Verde field (concession BM-C-36) and Module III of the Espadarte field to Petronas PetrĂłleo Brasil Ltda was […]
Asia Pacific Upstream – 5 Themes To Watch In 2020
(WoodMac, 19.Dec.2019) â Wood Mackenzie has identified five themes related to project sanctions, exploration, M&A, energy transition and IMO 2020 that will impact Asia Pacificâs upstream industry in 2020. Australia leads in bumper year for Asia Pacific FIDs Asia Pacific is expected to see a boost in major project sanctions […]
Qatar Petroleum Wins Three Blocks Offshore Brazil
(QP, 10.Oct.2019) â Qatar Petroleum has won exploration rights in three offshore blocks in Brazil, as part of two bidding consortia. The winning bids were announced by Brazilâs National Agency of Petroleum, Natural Gas, and Biofuels (ANP) at a public bidding session held in Rio de Janeiro. Competing bids were […]
ANP 16th Round Attracts Record R$8.9bn Signings
(ANP, 10.Oct.2019) â The 16th Bidding Round collected R$ 8.9 billions in signature bonuses, a record value among the concession rounds already held in Brazil. The round will generate investments of at least R$ 1.58 billion in the first phase of the concession contracts alone (exploration phase). Twelve of the […]
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, […]
Brazil Approves 14 Firms For November Oil Tender
(Reuters, 30.Sep.2019) â 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. As widely expected, the companies participating include […]
Wintershall DEA Boosts Interest In Block 5 Offshore Mexico
(Wintershall DEA, 17.May.2019) â Wintershall Dea and its partners in Block 5, Murphy Sur (operator), a wholly owned subsidiary of Murphy Oil Corporation, and PC Carigali Mexico Operations, S.A. de C.V. (PCCMO), a subsidiary of PETRONAS, have signed a Sales and Purchase Agreement with Ophir Energy, to acquire Ophirâs 23.33% […]
Argentinaâs Energy Secretariat Says La Amarga Chica Producing 13,000 B/D
(Energy Analytics Institute, Aaron Simonsky, 9.May.2019) â Production of shale oil in La Amarga Chica area under the watch of YPF and partner Petronas reached 13,000 barrels per day on 2 May 2019, up from 6,296 barrels per day in April 2018, online media RĂo Negro reported 9 May 2019, […]
Petronas Enters SPA with Petrobras for Stake in Tartaruga Verde Field
(Petronas, 26.Apr.2019) â Petronas through its subsidiary, Petronas PetrĂłleo Brasil Ltda. (PPBL) entered into a Sale and Purchase Agreement (SPA) with PetrĂłleo Brasileiro S.A. (Petrobras), Brazilâs petroleum multinational corporation, for a 50% equity in the Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both […]
Petrobras Inks Three Deals To Divest Of Assets Worth US$10.3 Billion
(Petrobras, 25.Apr.2019) â Petrobras informs that today it executed three sale and purchase agreements to sell assets in the total amount of US$ 10.3 billion (about R$ 40 billion). In 2019, considering the signed transactions and the closed one, the total amount of asset sales is US$ 11.3 billion. “Today […]
Vaca Muerta Megaproject â A Fracking Carbon Bomb In Patagonia
(Observatorio Petrolero Sur, 5.Feb.2018) â Vaca Muerta is a leading case for the next generation of fossil fuels. Big Oil and Gas companies are keen to turn it into a success story âwhich is why we collectively need to put a stop to this if we are serious about restricting […]
Rafael Ramirez Speech in Puerto La Cruz
(Energy Analytics Institute, Piero Stewart, 4.Oct.2013) â Venezuela’s Oil Minister President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez on the economic sector: Ramirez: We have bonds that we are using to bring in food stuffs to guarantee supply […]
Petronas Exits Carabobo Project in Venezuela
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) â Malaysia’s Petronas will exit the Petrocarabobo project in Venezuela’s Orinoco Heavy Oil Belt or Faja, according to Venezuela’s Oil Minister Rafael Ramirez. The Petrocarabobo project, which requires an investment of $20 bln, will last for 25 years and includes construction of a 200,000 […]