Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is investing 1.5 billion reais ($500 million) in projects, including developing five fields in the country’s northeast.
The producer, backed by Cambuhy Investimentos, which counts Brazilian billionaire Pedro Moreira Salles as an investor, expects the plan to increase gas output 71%, to 8.4 MMcmd (297 MMcfd) by July 2016, said Henrique Rzezinski, institutional relations vice president of the company, known as PGN
Exxon Mobil Corporation has announced a significant oil discovery on the Stabroek Block, approximately 120 miles offshore Guyana.
By 2025 mega-projects offshore Brazil and Norway will add some 3.8 MMbpd of new crude supply from the Atlantic basin, according to Wood Mackenzie's latest outlook.
Petrobras has announced that on April 11, 2015, oil production in the fields it operates in the pre-salt province of the Santos and Campos basins reached the milestone of 800,000 bopd, constituting a new daily production record.
Tracerco has invested in a number of new mobile reservoir tracer analysis laboratories for use onsite in offshore projects.
Statoil Brazil, in partnership with China’s Sinochem, is betting $3.5 billion in the Campos basin. Statoil Brazil president Pål Eitrheim explained the company’s strategy to World Oil.
Mexico is the world’s 10th largest oil producer and has some of the largest reserves in the Western Hemisphere.
Alvaro Teixeira is a civil engineer and geologist who worked 36 years for Petrobras on E&P projects in Brazil and abroad.
Responding to falling oil prices, some Latin American governments push energy investment, while others slash E&P budgets.
Repsol has announced a new gas discovery in the Margarita-Huacaya Block in Bolivia. The discovery increases reserves in the Caipipendi area and will bolster Repsol's gas production in Bolivia.
ION Geophysical has announced the completion of the company’s Barbados Reprocessing project, in coordination with the recent announcement of Barbados’ 2015 Offshore Licensing Campaign.
RIO DE JANEIRO (Bloomberg) -- If guiding the biggest iron-ore miner through the worst price rout in a decade wasn’t enough, Murilo Ferreira is taking on a new job: chairman of Petroleo Brasileiro SA.
Few countries have been hit harder by falling crude oil prices in recent months than Venezuela; an OPEC member and the holder of the world’s largest volume of oil reserves.
Premier Oil’s Isobel Deep exploration well offshore the Falkland Islands has been temporarily suspended, Falkland Oil and Gas Limited, a partner in the well, reports.
Strongwell Corporation, a company involved in pultrusion of fiber reinforced polymers (FRP), has entered into an exclusive licensing and technology agreement in Central and South America with Fibratore S.A., designer and manufacturer of FRP components.
Petrobras has discovered an onshore oil accumulation in the Espírito Santo basin.
Petrobras has discovered a new oil and gas accumulation in the Amazon basin, Block AM-T-84.
Petrobras has completed its formation test on well 3-BRSA-1286-SES, in concession BM-SEAL-11, in the ultra-deep waters of the Sergipe-Alagoas basin.
LGO has started drilling the first well in its 2015 seven-well development program at Goudron field in Trinidad.