Latin America ///

President Energy commences operations at Puesto Guardian Concession, Argentina

Further to the Company’s announcement on Jan. 11, 2017, President Energy has announced that the workover rig has been mobilized to the first well location, and that operations have already commenced.

Rosneft begins drilling first exploration well at Solimoes project, Brazil

Rosneft Brasil (100% owned Rosneft subsidiary) started the drilling of the first exploration well in the Solimoes basin.

TOFCO completes fabrication of Juniper in Trinidad and Tobago

Trinidad Offshore Fabricators Unlimited (TOFCO) recently completed work for the Juniper offshore gas platform topsides at its facility in La Brea, Trinidad.

Petrobras' $5.2-billion deal hits legal snag

Petroleo Brasileiro SA’s $5.2-billion sale of a natural gas distribution unit to Brookfield Asset Management Inc. and other investors has just hit a legal snag.

GeoPark makes discovery in Llanos 34 Block, Colombia

GeoPark Limited, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina, and Peru, has announced new drilling successes in the Llanos 34 Block (GeoPark operated with a 45% working interest), in Colombia.

PDVSA braces for fourth year production drop as default looms large

The recent bump in oil prices isn’t enough to help Petroleos de Venezuela SA (PDVSA) as it faces its fourth consecutive year of declining production.

U.S. enjoys first-ever oil trade surplus with Latin America

The U.S. for the first time is pushing more crude and refined petroleum products into Latin America than it brings back, signaling a change in the global trade map that could be tested if President Donald Trump introduces border taxes.

BP’s Juniper platform sets sail for offshore Trinidad

BP Trinidad and Tobago LLC (bpTT) today announced that the new Juniper offshore platform has begun its journey towards the southeast coast of Trinidad where it will be installed as bpTT’s 14th offshore installation. The Juniper project is a $2 billion USD investment in Trinidad and Tobago and one of BP’s largest start-up projects in 2017.

Saipem awarded onshore drilling contracts valued at $240 million

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.

Pampa sets sights on Argentina’s tight gas as Vaca Muerta drags

Pampa Energia SA wants to become one of Argentina’s main producers of tight gas following its acquisition of Petrobras Argentina SA, because those prospects are currently more profitable than shale gas in the giant Vaca Muerta formation.

Exxon to greenlight 1.4 Bbbl Guyana discovery in 2017

Exxon Mobil plans to formally approve investing in the 1.4-Bbbl Liza oil discovery off the coast of Guyana by the end of 2017.

SBM Offshore awarded contracts for Exxon Mobil Liza FPSO

SBM Offshore has announced that Exxon Mobil subsidiary Esso Exploration and Production Guyana Limited has awarded the Company contracts for a Floating Production, Storage and Offloading vessel (FPSO) for the Liza development and production in Guyana.

Petrobras awards Benthic geotechnical investigation contract

Benthic has been awarded a contract by the Libra Consortium for an offshore geotechnical investigation in the Libra field area, which lies about 140 miles off the coast of Rio de Janeiro, Brazil.

Perenco acquires assets, offshore Trinidad and Tobago

Perenco has announced the acquisition of a 70% interest in the Teak, Samaan and Poui Block (TSP) in Trinidad and Tobago.

Polarcus awarded two projects offshore South America

Polarcus has received two Letters of Intent from two undisclosed clients for two additional marine seismic projects offshore South America.

Post-OPEC rally no miracle cure for Latin America’s crippled oil giants

For the three titans of Latin American oil—Pemex, PDVSA and Petrobras—last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks of international crude heavyweights.

GeoPark awarded final approval for Morona Block acquisition in Peru

GeoPark Limited--an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina and Peru--today announced that it has obtained final regulatory approval for its acquisition of the Morona Block in Peru.

New president of Chevron Africa and Latin America E&P named

Chevron Corporation has named Clay Neff as president of Chevron Africa and Latin America Exploration and Production, effective Jan. 1, 2017.

FMC, Technip pass final antitrust review with Brazilian clearance

The pending combination of FMC Technologies and Technip has received a clearance decision from the General Superintendent of the Administrative Council for Economic Defense (CADE), the Brazilian antitrust authority.

Centrica sells Trinidad and Tobago gas assets to Shell

Centrica has agreed to sell its entire portfolio of gas assets in Trinidad and Tobago to Shell Exploration and Production for an initial cash consideration of $30 million.