Latin America ///

Petrobras comeback snubbed by former backer as election nears

Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back in quite yet.

SBM Offshore completes $720-million financing of Liza

SBM Offshore is pleased to announce that on Dec. 19, 2017, it completed the project financing of FPSO Liza for a total of $720 million.

Total launches large-scale development of giant Libra field

Total announces that it has taken the investment decision for the first large-scale development phase of the Libra project, located deep offshore, 180 km off the coast of Rio de Janeiro, in the pre-salt area of the Santos basin in Brazil.

Simmons Edeco to carry out onshore drilling campaign in Mexico

Simmons Edeco, a leading global oilfield service provider, announced that it has been awarded a contract by Weatherford de Mexico S. de R.L. de C.V., a subsidiary of Weatherford International, to provide drilling services to Canadian-based Renaissance Oil Corp. and its partner Lukoil, which are developing a diversified shale and mature fields portfolio in oil-rich Mexico.

Statoil acquires 25% interest in Roncador field, tripling its production in Brazil

Statoil ASA and Petrobras have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos basin in Brazil. The transaction nearly triples Statoil's production in Brazil, with attractive break-evens and potential for additional value creation for both parties.

ExxonMobil, Petrobras form strategic alliance

Petrobras and ExxonMobil have signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.

President Energy announces completion of workover wells at Argentina's Puesto Flores field

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina is pleased to announce successful results from its first two workover program wells at Puesto Flores field, Rio Negro Province, Argentina.

The Global Offshore Brazil Summit is a must-attend event

Gulf Quest LLC, a joint venture between Quest Offshore and Gulf Publishing Company, is pleased to announce the first edition of the Global Offshore Brazil Summit (GOBS), which will be held June 11-13, 2018 at the Sheraton Grand, Rio de Janeiro, Brazil.

President Energy granted legislative approval of extension agreement for Puesto Flores field

President Energy has announced that the Rio Negro Provincial Legislature has approved the 10-year extension agreement for the Puesto Flores and Estancia Vieja Concession in that Province in Argentina.

Blackstone said to offer $6 billion for Petrobras pipeline

Blackstone Group has teamed up with its Brazilian partner to compete for Petroleo Brasileiro SA’s natural gas pipeline network in the country’s northeast, said people with knowledge of the matter.

Newly named Mero field estimated to hold 3.3 Bbbl

Petrobras, as the Operator and acting on behalf of the Libra Consortium, announces that today it submitted the declaration of commerciality to the Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) regarding the oil accumulation located in the northwestern portion of Libra block, in the Pre-salt of the Santos basin.

Statoil awarded exploration license onshore Argentina

As part of the Argentina’s Gas y Petróleo del Neuquén’s (GyP) 5th bidding round, Statoil has been awarded the Bajo del Toro Este exploration license as operator in the Neuquén basin.

Macri juggling act entangles Argentina's answer to the Permian

One of the world’s biggest shale formations is getting caught up in Argentina’s efforts to balance its books.

CNOOC announces start of production at Libra Block

CNOOC Limited announced today Libra Block in Brazil has already started production.

Days before OPEC meeting, Venezuela names general as oil boss

Just a few days before a key OPEC meeting, Venezuela President Nicolas Maduro named a military leader the nation’s new oil supremo as it grapples with U.S. sanctions, overdue bond payments and dwindling production.

Venezuela’s state oil producer to cut costs by 50%

Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50% in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30 million people.

SNC-Lavalin awarded engineering contract by Ecopetrol in Colombia

SNC-Lavalin has announced that it has been awarded a contract by Ecopetrol in Colombia for conceptual, basic and detailed engineering on high and medium-complexity projects through to 2020.

Petrobras reports oil and gas production from October

Petrobras reports that its total oil and natural gas production in October was 2.77 MMboed, with 2.67 MMboed produced in Brazil and 104,000 boed produced abroad.

Caution urged for potential investors in Venezuela

Jay Newman, the former hedge fund manager who helped billionaire Paul Singer win a 15-year fight against Argentina, has a word of caution for investors looking to replicate his success amid the chaos unfolding in Venezuela.

SBM Offshore starts Liza FPSO conversion

Following SBM Offshore’s completion of the Front End Engineering and Design (FEED) and a final investment decision on the Liza Phase 1 Development project by ExxonMobil in June 2017, SBM is has announced the next step in its scope for the FPSO.