Latin America ///

South America becomes home for U.S. shale gas amid rising demand

U.S. liquefied natural gas was supposed to go mainly to Asia and Europe, lured by prices as much as four times higher than those at home. So far, South America has been the destination of choice.

Pacific to sell stake in Santos basin blocks to Karoon

Pacific Exploration & Production has reached an agreement to sell its 35% working interest in five concession agreements—S-M-1101, S-M-1102, S-M-1037, S-M-1165 and S-M 1166—in Brazil’s Santos basin to Karoon Gas Australia.

Baker Hughes to partner with Venezuelan contractor to tap Orinoco belt

Y&V Group, the only Venezuelan contractor selected to participate in a multi-billion-dollar drilling project in the country’s Orinoco belt, is relying on an alliance with Baker Hughes to start drilling more than 200 wells.

Canacol Energy doubles natural gas drilling activity in Colombia

Canacol Energy has revised its capital plan for 2016. The new capital plan accelerates the corporation's natural gas opportunities in Colombia, with three new gas wells.

Saipem awarded onshore drilling contracts worth $430 million

Saipem has been awarded new contracts and extensions to existing contracts in the onshore drilling segment in the Middle East and South America. The awards have an overall value of $430 million.

YPF sees Argentina reforms drawing billions in shale investments

Argentina’s biggest oil company sees the government removing production subsidies by the end of 2017, a step that may help lure investment as President Mauricio Macri tries to sell his vision of a more competitive economy.

Bolivia’s Incahuasi field brought into commercial production

Today marked the start of commercial production from the Incahuasi field in Bolivia. Incahuasi is one of the largest active gas and condensate fields in Bolivia.

Oil servicers looking for output boost in Venezuela, PDVSA says

The world’s largest oilfield services providers are making plans to help boost output in Venezuela, according to the president of the country’s state-run oil company.

Petrobras union says salary freeze unacceptable, mulls strike

Brazil’s main oil workers union is meeting Monday and doesn’t rule out a strike as it battles with state-controlled Petroleo Brasileiro for more compensation, union leader Jose Maria Rangel said in an interview.

BP seeking more investment opportunities in Argentina shale

BP Plc would rather invest in Argentina’s shale oil fields than in Texas’ Permian basin, the U.S. drilling hot spot, CEO Bob Dudley said.

TGS in exclusive commercial well log agreement with ANCAP in Uruguay

The Ministry of Industry, Energy and Mining of the Republic of Uruguay has been authorized by the President of the Republic to allow the Administración Nacional de Combustibles, Alcoholes y Portland (ANCAP) to contract directly with TGS for the purpose of standardization and commercialization of a multi-client well data program for exploration wells in Uruguay.

Petrobras sheds 11,704 employees in $1.2-billion dismissal plan

Brazil’s state-controlled oil company Petrobras plans to save billions of dollars after completing a voluntary dismissal program to help reduce debt and adjust to lower oil prices.

Statoil and Petrobras strengthen strategic partnership in Brazil

Statoil and Petrobras took a step forward in strengthening their cooperation in Brazil by signing a Memorandum of Understanding (MoU).

Hansa Heavy Lift transports giant pipe racks for new FPSO

Hansa Heavy Lift has transported five pipe racks and three modules, weighing a total of 1,871.51 metric tonnes and measuring 24,075 m³, for a new floating production storage and offloading (FPSO) unit off the coast of Brazil.

Tight gas production ramps up in Argentina's Neuquén basin, Wood Mac says

Operators in Argentina are focusing on reversing the Neuquén basin's gas production decline by targeting low-permeability, tight gas reservoirs. The shift to tight gas production over the last three years is being driven by pricing incentives and lower costs versus shale gas wells.

Venezuela oil exports seen falling as economic woes worsen

The long decline in Venezuela’s oil production is becoming a supply risk for international markets, according to a report by Columbia University’s Center on Global Energy Policy.

Coring tool retrieves 71 sidewall core samples in one run

Aleksandar Milankovic, Ricardo Senne, Pablo E. Coronado, Halliburton

A high recovery rate and world record helped Petrobras achieve objectives, while saving 24 hr of deepwater drillship time, as well as operational costs.

Technip, DOF Subsea joint venture takes delivery of PLSV Skandi Açu

Technip and DOF Subsea’s 50/50 owned joint venture, TechDof Brasil AS, has taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu, the companies said Tuesday.

Fugro to support Total's ultra-deepwater drilling campaign offshore Uruguay

Fugro has been awarded a contract by Total E&P Uruguay to support its drilling campaign offshore Uruguay. The contract provides for ROV and tooling services in Raya-1 field, which has a water depth of 3,400 m.

Vaca Muerta is key energy to Argentina energy exports, IHS Markit says

Argentina’s promising Vaca Muerta unconventional energy play could deliver approximately 560,000 bpd of liquids and 6 Bcfgd by 2040, increasingly meeting the country’s growing demands for energy with domestic production and helping reduce its dependence on imports, according to recent analysis from IHS Markit.