Latin America ///

Wintershall to continue production growth

Wintershall attained 165 MMboe in 2016, a historic level for the company, despite the difficult conditions in the industry. This means the company has increased its oil and gas production in the last 10 years by around 50%. During that time, Wintershall has doubled its commercially recoverable oil and gas reserves from 814 MMboe to 1.62 Bboe.

Madalena Energy begins drilling Vaca Muerta shale at Coiron Amargo Sur Este

Madalena Energy Inc. has announced the commencement of the first horizontal multi-frac re-entry in the Vaca Muerta shale formation at Coiron Amargo Sur Este (CASE).

Weatherford Brazil facility achieves API Q2 certification

Weatherford International announced today that its facility in Macaé, Brazil, received API Specification Q2 certification. To gain certification, a facility must demonstrate a robust quality management system that assures personnel competency, risk assessment, contingency planning and other key elements.

President Energy announces successful workover operations in Argentina

Further to the Company’s announcement on Feb. 20, 2017, President Energy has announced that the first workover of a previously producing well, DP12 at Dos Puntitas field in Argentina, has been completed on time and on budget.

Total and Petrobras sign definitive contracts, seal strategic alliance

Petrobras and Total inform that they have signed yesterday definitive contracts in relation to the package of assets contemplated in a strategic alliance, outlined December 2016.

LGO to begin drilling operations at Goudron field, Trinidad

LGO can today confirm that Rig#18 has now been successfully mobilized to Goudron field, where it has been contracted to drill at least two infill wells to the Mayaro sandstone reservoir.

YPF and Shell agree on pilot project for Bajada de Añelo, Argentina

Shell Argentina Country Chairman Teófilo Lacroze and YPF Chairman Miguel Ángel Gutiérrez have signed preliminary terms and conditions of an agreement to develop a shale gas pilot project in Vaca Muerta, Neuquén. Shell estimates an investment of $300 million, which would take place in two phases.

Europe savors taste of Brazilian oil with more blocks opening

European oil majors given a taste of Brazil may soon be ready for more.

President Energy commences operations at Puesto Guardian Concession, Argentina

Further to the Company’s announcement on Jan. 11, 2017, President Energy has announced that the workover rig has been mobilized to the first well location, and that operations have already commenced.

Rosneft begins drilling first exploration well at Solimoes project, Brazil

Rosneft Brasil (100% owned Rosneft subsidiary) started the drilling of the first exploration well in the Solimoes basin.

TOFCO completes fabrication of Juniper in Trinidad and Tobago

Trinidad Offshore Fabricators Unlimited (TOFCO) recently completed work for the Juniper offshore gas platform topsides at its facility in La Brea, Trinidad.

Petrobras' $5.2-billion deal hits legal snag

Petroleo Brasileiro SA’s $5.2-billion sale of a natural gas distribution unit to Brookfield Asset Management Inc. and other investors has just hit a legal snag.

GeoPark makes discovery in Llanos 34 Block, Colombia

GeoPark Limited, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina, and Peru, has announced new drilling successes in the Llanos 34 Block (GeoPark operated with a 45% working interest), in Colombia.

PDVSA braces for fourth year production drop as default looms large

The recent bump in oil prices isn’t enough to help Petroleos de Venezuela SA (PDVSA) as it faces its fourth consecutive year of declining production.

U.S. enjoys first-ever oil trade surplus with Latin America

The U.S. for the first time is pushing more crude and refined petroleum products into Latin America than it brings back, signaling a change in the global trade map that could be tested if President Donald Trump introduces border taxes.

BP’s Juniper platform sets sail for offshore Trinidad

BP Trinidad and Tobago LLC (bpTT) today announced that the new Juniper offshore platform has begun its journey towards the southeast coast of Trinidad where it will be installed as bpTT’s 14th offshore installation. The Juniper project is a $2 billion USD investment in Trinidad and Tobago and one of BP’s largest start-up projects in 2017.

Saipem awarded onshore drilling contracts valued at $240 million

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.

Pampa sets sights on Argentina’s tight gas as Vaca Muerta drags

Pampa Energia SA wants to become one of Argentina’s main producers of tight gas following its acquisition of Petrobras Argentina SA, because those prospects are currently more profitable than shale gas in the giant Vaca Muerta formation.

Exxon to greenlight 1.4 Bbbl Guyana discovery in 2017

Exxon Mobil plans to formally approve investing in the 1.4-Bbbl Liza oil discovery off the coast of Guyana by the end of 2017.

SBM Offshore awarded contracts for Exxon Mobil Liza FPSO

SBM Offshore has announced that Exxon Mobil subsidiary Esso Exploration and Production Guyana Limited has awarded the Company contracts for a Floating Production, Storage and Offloading vessel (FPSO) for the Liza development and production in Guyana.