WorldOil Regional Report: Brazil Short-term gains; long-term questions Equinor awards subsea integration alliance integrated FEED contract for Bacalhau field Schlumberger announced today an award to Subsea Integration Alliance of an exclusive contract by Equinor for the front-end engineering design (FEED) on its Bacalhau (formerly Carcará) project offshore Brazil. Brazil stays out of OPEC to maximize its output expansion Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC. TGS completes new multibeam and coring program in Brazil’s Campos and Santos basins TGS announced the completion of a new multibeam and coring program covering over 213,0000 square kilometers in the Campos and Santos basins of offshore Brazil. SBM signs 22-year FPSO contract with Petrobras FPSO Sepetiba will be deployed at the Mero field in the Santos basin offshore Brazil, 180 kilometers offshore Rio de Janeiro. Delivery is expected in 2022. OPEC membership isn’t an option for Brazil, Petrobras CEO says While Brazil’s President Jair Bolsonaro recently welcomed an informal invitation to join OPEC, the boss of the country’s state-controlled energy company isn’t a fan of the idea and said it’s not a possibility right now. Petrobras plans $34 billion in dividends by 2024 as debt shrinks Petrobras plans to pay its shareholders $34 billion in dividends over the next five years as it cuts debt and sells assets to shore up its finances, CEO Roberto Castello Branco said. Peterson and Itaoca Offshore announce partnership for development of new Brazil terminal The Itaoca Offshore project will be a private terminal (TUP), located in Itapemirim, in the Espírito Santo (ES) state in southeast Brazil, designed to provide logistical support to the supply chain for the exploration and production of offshore oil and gas. New pre-salt production begins on P-68 FPSO for Shell, Total in Brazil Deepwater production has come online from the Brazilian pre-salt Santos basin. Shell Brasil and its consortium partners announced the start of oil and natural gas production at the P-68 FPSO, located in BM-S-11-A Concession in Berbigão, Sururu and West Atapu. Petrobras faults high price, regulatory uncertainties for auction failure Petrobras CEO Roberto Castello Branco said the reason most major oil companies didn’t show up for Brazil’s massive auction was because of the astronomic price tag and regulatory uncertainties.