Latin America ///

Brazilian gas producer PGN plans $500 million output growth

Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is investing 1.5 billion reais ($500 million) in projects, including developing five fields in the country’s northeast. The producer, backed by Cambuhy Investimentos, which counts Brazilian billionaire Pedro Moreira Salles as an investor, expects the plan to increase gas output 71%, to 8.4 MMcmd (297 MMcfd) by July 2016, said Henrique Rzezinski, institutional relations vice president of the company, known as PGN

Exxon Mobil in deepwater oil discovery offshore Guyana

Exxon Mobil Corporation has announced a significant oil discovery on the Stabroek Block, approximately 120 miles offshore Guyana.

Upstream mega projects to alter global crude routes and refining, Wood Mac says

By 2025 mega-projects offshore Brazil and Norway will add some 3.8 MMbpd of new crude supply from the Atlantic basin, according to Wood Mackenzie's latest outlook.

Petrobras’ operated pre-salt production exceeds 800,000 bopd

Petrobras has announced that on April 11, 2015, oil production in the fields it operates in the pre-salt province of the Santos and Campos basins reached the milestone of 800,000 bopd, constituting a new daily production record.

Tracerco introduces offshore mobile labs for reservoir tracer analysis

Tracerco has invested in a number of new mobile reservoir tracer analysis laboratories for use onsite in offshore projects.

Statoil and China’s Sinochem invest heavily in Brazil’s Campos basin

Peter Howard Wertheim, Contributing Editor

Statoil Brazil, in partnership with China’s Sinochem, is betting $3.5 billion in the Campos basin. Statoil Brazil president Pål Eitrheim explained the company’s strategy to World Oil.

Low oil prices hamper Mexico’s deregulation, limit potential Cuban development

Peter Howard Wertheim, Contributing Editor

Mexico is the world’s 10th largest oil producer and has some of the largest reserves in the Western Hemisphere.

Latin America’s prospects, and post-corruption Petrobras

Peter Howard Wertheim, Contributing Editor

Alvaro Teixeira is a civil engineer and geologist who worked 36 years for Petrobras on E&P projects in Brazil and abroad.

Regional Report: Latin America

Mauro Nogarin, Contributing Editor

Responding to falling oil prices, some Latin American governments push energy investment, while others slash E&P budgets.

Companies in the news

Steven McGinn, World Oil

Companies in the news

Repsol makes new gas discovery in Bolivia

Repsol has announced a new gas discovery in the Margarita-Huacaya Block in Bolivia. The discovery increases reserves in the Caipipendi area and will bolster Repsol's gas production in Bolivia.

ION announces availability of reprocessed seismic data offshore Barbados

ION Geophysical has announced the completion of the company’s Barbados Reprocessing project, in coordination with the recent announcement of Barbados’ 2015 Offshore Licensing Campaign.

Petrobras appoints Vale head Ferreira as chairman

RIO DE JANEIRO (Bloomberg) -- If guiding the biggest iron-ore miner through the worst price rout in a decade wasn’t enough, Murilo Ferreira is taking on a new job: chairman of Petroleo Brasileiro SA.

Oil production weighs heavy on Venezuela, DW says

Few countries have been hit harder by falling crude oil prices in recent months than Venezuela; an OPEC member and the holder of the world’s largest volume of oil reserves.

Premier Oil suspends Falklands well on BOP problem

Premier Oil’s Isobel Deep exploration well offshore the Falkland Islands has been temporarily suspended, Falkland Oil and Gas Limited, a partner in the well, reports.

Strongwell inks licensing & technology agreement with Fibratore

Strongwell Corporation, a company involved in pultrusion of fiber reinforced polymers (FRP), has entered into an exclusive licensing and technology agreement in Central and South America with Fibratore S.A., designer and manufacturer of FRP components.

Petrobras discovers onshore oil in Espírito Santo basin

Petrobras has discovered an onshore oil accumulation in the Espírito Santo basin.

Petrobras reports new Amazon basin discovery

Petrobras has discovered a new oil and gas accumulation in the Amazon basin, Block AM-T-84.

Petrobras confirms productivity of Sergipe basin’s Farfan reservoirs

Petrobras has completed its formation test on well 3-BRSA-1286-SES, in concession BM-SEAL-11, in the ultra-deep waters of the Sergipe-Alagoas basin.

LGO spuds first well of 2015 Goudron program

LGO has started drilling the first well in its 2015 seven-well development program at Goudron field in Trinidad.