Latin America ///

Vandalism, road blocks could lead Ecuador to soon halt oil pumping

Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement.

Characterizing seismic facies in a carbonate reservoir, using machine learning offshore Brazil

Raisa Carvalho, Maria Gonzalez, Wagner Lupinacci

Seismic data can provide useful information for prospect identification and reservoir characterization. Combining seismic attributes helps identify different patterns, thus improving geological characterization. Machine learning applied to seismic interpretation is very useful in assisting with data classification limitations.

Energía Argentina, Tenaris to produce welded pipes for Presidente Néstor Kirchner Gas Pipeline

Energía Argentina and Tenaris signed an agreement for the supply of welded pipes for the construction of the Presidente Nestor Kirchner Gas Pipeline (GPNK) in Argentina.

South American island pitches $6 billion wind, hydrogen energy plan

An island region famed for its location at the very tip of South America wants to diversify its economy away from fossil fuels to tap the global clean-energy transition.

CSA Ocean Sciences concludes environmental assessment offshore Suriname

CSA Ocean Sciences Inc. announced the conclusion of an Environmental Assessment Program for a major offshore energy operator in Block 58, a 5,841 km2 area approximately 115 km (71 mi) offshore north Suriname in South America.

Venezuela investors meet in Davos as U.S. weighs sanctions

Venezuela creditors are holding a rare meeting in Davos next week to discuss potential opportunities in the oil sector amid increasing optimism for investment in the country as the U.S. floats easing some sanctions.

U.S. to ease sanctions on Venezuela, enabling cargoes to Europe

The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe.

TechnipFMC get approval to procced with Yellowtail Development offshore Guyana

TechnipFMC has been awarded an additional contract and received notice to proceed by ExxonMobil affiliate Esso Exploration and Production Guyana Limited for its Yellowtail development in the Stabroek Block offshore Guyana.

Shell announces first production at FPSO Guanabara offshore Rio de Janeiro

The FPSO Guanabara has an installed capacity of 12 million cubic meters of natural gas and 180,000 bopd and initially has six producing wells and seven injector wells connected to the field.

Brazil showcases oil & gas, technology, opportunities for foreign investors during OTC

ApexBrasil is partnering with numerous companies and organizations to highlight the country's burgeoning leadership in the sector at the Offshore Technology Conference (OTC) in Houston, Texas.

Shell acquires 25% stake in Atapu Field in Brazil for $1 billion

Shell Brasil Petróleo, a subsidiary of Shell plc, signed a Production Sharing Contract to acquire a 25% stake of the Atapu field. Shell paid $1.1 billion to Petrobras for the increased stake in the field.

ExxonMobil makes three new oil discoveries offshore Guyana

ExxonMobil announced three new discoveries offshore Guyana which will increase the estimate of the recoverable resource of the Stabroek Block to nearly 11 billion oil-equivalent barrels.

Guyana in talks to build deepwater port with Abu Dhabi

Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast.

Wood to engineer Total Eren’s large-scale green hydrogen project in Chile

Wood’s scope covers the development of a complete off-grid integrated energy complex to produce ammonia from green hydrogen – avoiding up to 5 million tons of CO₂ annually.

War turns Argentina's shale boom dream into gas-buying nightmare

Despite having shale-gas deposits to rival those in Appalachia, Argentina's domestic gas production sector has suffered from years of underinvestment that has left it unable to meet domestic demand, never mind the needs of the export market.

SBM Offshore divests minority interest in FPSO Alexandre de Gusmão project

SBM Offshore announced that it has entered into a shareholder agreement with its long standing business partners Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha.

2022 Forecast: Activity outside North America will lead global recovery


Every region will post an increase, led by the Middle East, the Americas, Africa and the FSU. Offshore activity will grow at about the same pace as onshore drilling.

Regional report: Brazil – weathering the pandemic

Mike Slaton

Considering its wobbly production, Brazil is doing pretty well in weathering the pandemic. Results of the rescheduled 17th Bidding Round for exploratory acreage were termed successful, although only five of 92 offered blocks were sold.

TotalEnergies announces significant oil and gas discovery in Block 58

TotalEnergies and APA Corporation have made a significant new oil and associated gas discovery at the Krabdagu-1 well, in the central area of Block 58, offshore Suriname.

2022 Forecast: Global capex growth to accelerate

James West

Worldwide E&P spending is set to increase 16% in 2022, extending the 5.5% growth experienced in 2021. The first coordinated global upturn since 2018 will be led by North America, but ambitious capacity growth targets in the Middle East, Latin America and Africa will drive international capex gains.

ExxonMobil's FPSO Liza Unity produces first oil offshore Guyana

SBM Offshore announced that floating, production, storage and offloading vessel Liza Unity has produced first oil as of Feb. 11 and is formally on hire.