Latin America ///

Pre-salt subsea deployment technique saves Petrobras $5 million per well

At the end of last year, Petrobras deployed its first wet Christmas tree using cables in the pre-salt area.

PetroRio acquires 80% stakes in Brazil's Bijupirá and Salema fields

PetroRio, the new brand of HRT Participações em Petróleo has announced the signing of a purchase and sale agreement to acquire 80% of the rights and obligations of the concession contracts for the Bijupirá and Salema fields with Shell Brasil and Petrobras holding the remaining 20%.

Shell said to sell Brazil offshore fields to HRT amid oil rout

RIO DE JANEIRO (Bloomberg) -- Royal Dutch Shell, the second-largest oil operator in Brazil, is selling a stake in one of its crude-producing projects in the country to HRT Participacoes em Petroleo, two people with knowledge of the matter said.

GE Oil & Gas awarded 13-year contract to provide long-term services for PERU LNG plant

PAMPA MELCHORITA, Peru -- GE Oil & Gas has been awarded a long-term contractual service agreement through General Electric International Peru to support the PERU LNG S.R.L liquefied natural gas (LNG) facility in Pampa Melchorita, Peru, approximately 100 mi south of Lima. The facility is South America’s LNG production plant.

Petrobras is world's largest operator of floating production platforms

RIO DE JANEIRO -- Petrobras now operates more floating production platforms (including self-owned and chartered ones) than any other company in the world, according to Petrodata, a consulting firm that specializes in providing information about the global oil industry.

IEA sees oil-price recovery; cuts 2015 non-OPEC output estimate

PARIS (Bloomberg) -- Non-OPEC oil producers will increase output this year at a slower rate than previously forecast, aiding a recovery in crude prices, the International Energy Agency said. The adviser lowered its non-OPEC supply growth estimate by 350,000 bopd, the first cut since the 2015 forecast was introduced in July. Half the cut is from Colombian output while effects on U.S. production are so far “marginal,” it said. The slow-down in non-OPEC output will lead to a “rebalancing” of currently over-supplied global markets in the second half, reviving prices, the agency said.

Petrobras saves $1 billion in wake of well cost reduction program

RIO DE JANERIO -- Petrobras has saved around $1 billion in cost reductions, design optimization and productivity gains since it launched its well cost reduction program in 2013.

Petrobras becomes largest oil producer among publicly traded companies

RIO DE JANEIRO, Brazil -- In the third quarter of 2014, Petrobras surpassed Exxon Mobil’s oil production, and is now the largest producer of liquid hydrocarbons among its publicly traded peers. Considering oil and natural gas, the company is now fourth in the ranking.

Ezra bags $110 million contract from Jurong Shipyard for deepwater project in Brazil

SINGAPORE -- Ezra Holdings' wholly owned subsidiary London Marine Consultants (LMC), Ezra’s FPSO Turret Design outfit, has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel.

Oil falls as Goldman cuts outlook while Venezuela seeks recovery

MELBOURNE and LONDON (Bloomberg) -- Oil extended losses from the lowest level in more than five and a half years as Goldman Sachs Group reduced its price forecasts and Venezuela called on OPEC producers to work together to spur a recovery.

Pre-salt is still economically viable, Petrobras says

RIO DE JANEIRO -- Petrobras is expanding its oil and natural gas production capacity in the Brazilian pre-salt layer in an economically viable manner, the company said in response to a recent press report.

Inpex finds additional oil deposits in Brazil's Espírito Santo basin

TOKYO, Japan - Inpex Corporation has newly discovered deposits of quality oil with an API of 36 at a depth of approximately 4,300 m through ongoing appraisal drilling in the BM-ES-23 concession in the Espírito Santo basin offshore Brazil.

Petrobras finishes Pudim well in the Espírito Santo basin post-salt

RIO DE JANEIRO -- Petrobras has completed drilling extension well 3-ESS-219D, informally known as Pudim, at a water depth of 1,886 m, in the Espírito Santo basin post-salt. The completion of this well, which had been announced to the market on Oct. 7, confirmed the presence of excellent quality oil through log data analysis, fluid samples and a cable test conducted in reservoirs located at a depth of some 4,300 m. Drilling ended at a depth of 4,670 m.

Rockhopper Exploration and Eni awarded offshore block in Croatia

SALISBURY, England -- Rockhopper Exploration, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, has been awarded a 40% interest in offshore block 9 in Croatia in partnership with Eni (60% interest and operator).

Venezuela derails Harvest’s deal to sell local oil operations

HOUSTON (Bloomberg) -- Harvest Natural Resources’ deal to sell its remaining oil operations in Venezuela to Petroandina Resources were derailed after the government didn’t approve the $275 million transaction. Its shares plunged.

EMGS enters licensing agreement for Foz do Amazonas data

TRONDHEIM, Norway -- Electromagnetic Geoservices (EMGS) has entered into a data licensing agreement with an international oil company worth $1.8 million for the provision of 3D EM data from a portion of the EMGS' multi-client data library in Foz do Amazonas in Brazil.

Petrobras to start early production in Buzios field

RIO DE JANEIRO -- Petrobras has received authorization from Brazil’s ANP to initiate the early production system of well 2-ANP-1RJS, located in Búzios field (formerly known as the Franco area), in the Santos basin pre-salt.

Petrobras’ pre-salt production passes 700,000 bopd

RIO DE JANERIO -- Oil production in fields operated by Petrobras, in both the Santos and the Campos basins pre-salt, reached the historical 700,000 bpd mark on Dec. 16, the company has reported. About 74% of this volume (523,000 bopd) corresponds to the company´s share and 26% correspond to its partners.

BPZ Energy announces new Corvina well online

Houston -- BPZ Energy has initiated production from the Corvina CX15-14D development well located in Peru.

Exxon makes second discovery in Argentina’s Vaca Muerta

BUENOS AIRES -- Exxon Mobil and Gas y Petróleo del Neuquén have made a second unconventional oil and gas discovery in Neuquén Province of Argentina. Located in the liquids-rich area of the Vaca Muerta play, the La Invernada X-3 well was drilled to a total measured depth of 15,374 ft. The horizontal leg of the well extends for 3,280 ft. The discovery is operated by ExxonMobil Exploration Argentina S.R.L., an affiliate of Exxon Mobil.