Latin America ///

Chevron, Total withdraw foreign staff in Venezuela amid political turmoil

Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s Statoil ASA has withdrawn its expatriate staff.

Oil & Gas in the Capitals

Mauro Nogarin, Contributing Editor

Notwithstanding Latin America’s limited economic growth, exploration investments are the common denominator in the region’s major oil and gas plays.

First Oil

Kurt Abraham, World Oil

On July 30, either through their own free will, or through coercion and intimidation by their president, Nicholas Maduro, the citizens of Venezuela approved a new “Constituent Assembly.”

Suretank Brazil aims to revolutionize chemical transportation for oil and gas

Suretank Latin America has entered into a partnership agreement with Pinamak aimed at dramatically reducing operating costs in the transportation of chemicals to offshore platforms.

Russian oil giant lends support to Venezuela oil company

Russia’s largest oil company disclosed another advance payment to Venezuela’s state producer after the U.S. sanctioned President Nicolas Maduro on Monday.

Venezuela to prepare workaround if U.S. bans oil imports

Venezuela’s state-owned oil company and its partners have quietly started working on a Plan B to find markets for the country’s crude oil if the White House ratchets up sanctions and bans imports.

Potential U.S. oil sanctions increase risk of Venezuelan default

The specter of tighter U.S. sanctions is pushing up the perception that Venezuela is getting closer to defaulting on its bonds.

Karoon approves FEED for Echidna oil discovery in Santos basin, Brazil

Karoon Gas Australia Ltd. is pleased to announce that its Board has approved the development concept for the Echidna light oil discovery, progressing the project to the next phase in the development, Front-End Engineering and Design (FEED).

Echo Energy signs technical evaluation agreement for the Rio Salado Block in Bolivia

Echo Energy, the South and Central America focused upstream gas company, has announced the signature of a technical evaluation agreement (TEA) for the Rio Salado Block, onshore Bolivia.

Exxon Mobil announces successful Payara-2 well, offshore Guyana

Exxon Mobil Corp. today announced that it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 MMboe.

Subsea 7 awarded contract extensions offshore Brazil

Subsea 7 S.A. has announced the award of contract extensions for three Pipelay Support Vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil.

Total, BP unit, YPF announce $1.15-billion investment in Argentina's Vaca Muerta

Argentina's state-run oil firm YPF SA, France's Total SA, Wintershall Energía SA and BP unit Pan American Energy LLC announced a $1.15-billion joint investment on Tuesday to increase shale gas production.

Brazil mulls easing local content rules in older oil contracts

Brazil's oil regulator is proposing a plan to allow companies to apply more flexible local content rules to pre-existing contracts, the agency chief said on Tuesday, in a bid to attract fresh investment by foreign oil majors into Latin America's top economy.

Exxon Mobil acquires interest in acreage offshore Suriname

Exxon Mobil Corporation has announced that its subsidiary Exxon Mobil Exploration and Production Suriname B.V., along with co-venturers Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname.

Statoil secures Seadrill rig for exploration drilling in Brazil

Statoil Brasil Oleo e Gas Ltda has awarded Seadrill two service contracts for exploration drilling in the BM-S-8 license in Brazil's Santos basin.

Statoil strengthens position in Brazil with $379-million transaction

Statoil ASA and Queiroz Galvão Exploração e Produção (QGEP) have signed an agreement for Statoil to acquire QGEP’s 10% interest in the BM-S-8 licence in Brazil’s Santos basin.

Venezuela's PDVSA says it guarantees investor security amid uncertainty

Venezuela's PDVSA is guaranteeing "legal security" for all foreign companies in the leftist-run nation, the state oil producer said in a statement, rebuffing a government adviser's suggestion that their operations could be nationalized.

Add Energy awarded contract with BP in Trinidad and Tobago

Add Energy, the international energy consultancy provider, has been awarded a maintenance build contract with BP Trinidad and Tobago LLC for work on the Angelin gas field, a development located 60 km offshore Trinidad and Tobago’s east coast.

Petrobras awards two-year contract to Fugro in Brazil

Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.

Brazilian study urges Petrobras to cut Bolivian natural gas purchases

Petróleo Brasileiro SA should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.