Latin America ///

EIA: Venezuela’s crude oil production declines amid economic instability

Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years.

Petrobras announces sale of Piranema and Piranema Sul fields

Petrobras has announced that it has started the opportunity disclosure stage regarding the transfer of Petrobras’ total stake in the Piranema and Piranema Sul fields.

Pneumatic fluids, cuttings separator increases fluid recovery, waste reduction

Today, strict global onshore and offshore disposal standards are applicable industry-wide. One of the requirements specifies that free fluid must be removed from all cuttings. This can result in increased costs for operators due to higher treatment, disposal and transportation costs.

World of Oil & Gas

Emily Querubin, World Oil

TAG Oil Ltd. (70%), operator of the Puka permit (PEP 51135) in New Zealand’s Taranaki basin, said the Pukatea-1 exploration well was drilled to 10,170 ft, MD, encountering variable hydrocarbon shows.

IEA: Record oil output from U.S., Brazil, Canada and Norway to keep global markets supplied

Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency's latest annual report on oil markets.

President Energy reports a 66% increase in Neuquén basin 2P net reserves

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announces the results of the latest Argentine yearly reserves certified as at Dec. 31, 2017, conducted by JR Consultores led by Juan Rosbaco, a leading Argentine Reserves auditor.

ExxonMobil reports seventh discovery offshore Guyana

ExxonMobil Corporation has announced its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well.

Petrobras announces start of binding phase for divestment of Enchova, Pampo clusters

Petrobras, further to the Material Fact disclosed on July 28, 2017, and press release disclosed on Oct. 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo clusters, located in Rio de Janeiro state.

U.S. said to weigh Venezuelan oil sanctions before April vote

The U.S. is leaning toward imposing oil-sector sanctions on Venezuela before the country holds April 22 elections that opposition leaders have vowed to boycott, according to a senior State Department official.

U.S. ban on key oil material could choke Venezuelan production

The outlook for declining oil production in Venezuela may get grimmer if the U.S. bans supply of a key commodity used to help Venezuelan crude flow from oilfields to the coast.

Deep Sea Mooring commences offshore Trinidad project for Maersk Drilling

Deep Sea Mooring (DSM), a Vryhof company, has commenced operations in providing mooring equipment, design and marine supervisory services to Maersk Drilling in Trinidad.

Polarcus secures extension of South American campaign

Reference is made to the stock exchange release issued on Dec. 16, 2015 in which Polarcus Limited announced an award for a 3D marine seismic project in South America.

Abrado Wellbore Services awarded multi-string section milling P&A project in Trinidad

Abrado announced today that it has been awarded a multi-million-dollar dual-string section milling plug and abandonment project in Trinidad utilizing its proprietary Medusa cutting technology.

Eco Oil & Gas announces acquisition of minority interest in Guyana subsidiary

Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is pleased to announce that Eco (Guyana) Oil and Gas (Barbados) Ltd. (Eco Barbados), a wholly owned subsidiary of the Company, has agreed to acquire the remaining 6% interest in Eco (Atlantic) Guyana Inc. (Eco Guyana), following which Eco Guyana will become a wholly owned subsidiary of the company.

Harvest Natural Resources sues ex-oil chief over bribe demands

Former Venezuelan oil minister Rafael Ramirez, already accused of corruption by his own country, now faces a lawsuit from a Houston energy firm alleging that it lost almost half a billion dollars over its refusal to pay bribes for contracts.

Venezuela plight has U.S. rushing for heavy UK crude

Oil refineries in the U.S. Gulf of Mexico are buying the most crude from the UK North Sea in more than seven years as they scramble to replace lost supplies from Venezuela.

Venezuela's oil output crash is costly for U.S. refiners

U.S. Gulf Coast refiners are paying the price for shrinking Venezuelan crude output.

Turbodrills reduce well time and deliver lower cost per foot in hard and abrasive formations

Mark Miksa, Halliburton

Downhole turbines are a solution in hard and abrasive formations, otherwise inaccessible with conventional motors.

Echo Energy announces onshore Argentina work program

Echo Energy plc, the South and Central American focused upstream oil and gas company, is pleased to announce its 2018 work program, onshore Argentina.

Aker Solutions wins services contract from Petrobras in Brazil

Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market.