Latin America ///

America supplies OPEC with oil freed from 40-year export ban

The U.S. is now supplying OPEC with crude oil, sort of.

Statoil to explore offshore Uruguay with deepwater acquisition

Statoil has agreed to acquire a 15% working interest in exploration Block 14, offshore Uruguay. The acquisition represents Statoil’s first entry into the South American nation.

Producing fields can sustain Petrobras for 2-3 years of low prices, board member says

Oil and gas fields already paid for and in production can sustain Brazilian state-run company Petroleo Brasileiro SA for two to three years of low prices, a board member for the firm told reporters on Friday.

Offshore in depth

Ron Bitto, Contributing Editor

Low crude prices force adjustments to deepwater plans

McClendon, YPF in $500-million Vaca Muerta venture

Aubrey McClendon, CEO of American Energy Partners, LP (AELP), and Miguel Galuccio, president and CEO of YPF, have signed initial agreements for the exploration and development of the Vaca Muerta formation in Argentina’s Neuquén basin.

SBM Offshore wins FEED for Premier Oil Sea Lion FPSO

Premier Oil has awarded SBM Offshore the Front-End Engineering and Design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland basin.

Wood Group wins PetroRio contract in Brazil

Wood Group has been awarded a new contract by PetroRio to deliver services to the Polvo A platform, in the southern Campos basin, approximately 100 km off the coast of Rio de Janeiro.

Petrobras’ troubles highlight bleak prospects for Brazilian oil production to 2020

Marred by corruption and market turmoil, Petrobras, the operator of key pre-salt projects for Brazil’s oil production over the next five years, is one of many Brazilian oil and gas companies facing a difficult financial future in the short term, according to GlobalData.

Petrobras confirms productivity of Santos basin’s Carcará area

Petrobras has concluded two formation tests in the 3-SPS-105 well, confirming the high productivity of the pre-salt carbonate reservoirs.

Wintershall eyes Argentina’s Vaca Muerta shale with new investment

Wintershall and the local state-owned energy company Gas y Petróleo del Neuquén have signed an agreement under which Wintershall will increase its interest in Argentina's Aguada Federal Block from 50% to 90%.

Fugro wins contract for Exxon’s deepwater Guyana oil development

Fugro has been awarded a contract by Esso Exploration and Production Guyana Ltd., an Exxon Mobil affiliate, for survey services at a deepwater field development offshore Guyana.

Petrobras tries American-shale boys’ tack to survive oil crisis

The head of Brazil’s troubled oil giant is carving a path through the worst oil rout in a generation that would look familiar to producers throughout the U.S. shale patch: focus on the core.

Oil rig count soars in unlikely OPEC nation before Vienna talks

All across the Americas, drilling rigs are being idled as oil prices hover near six-year lows.

Repsol reports record production in Bolivia

Repsol chairman, Antonio Brufau, and the president of Bolivia, Evo Morales, have announced the conclusion of the third phase of the Margarita-Huacaya project, the field with the largest production in the history of Bolivia.

Vaca Muerta shale to double production by 2018, Wood Mac says

Production from Latin America's premier shale play, the Vaca Muerta, is expected to double by 2018, according to a new development study by Wood Mackenzie. Argentina's massive play continues to be the most prospective tight oil play outside of North America.

Rockhopper Exploration to buy Falkland Oil in $87-million deal

Rockhopper Exploration Plc agreed to buy Falkland Oil & Gas Ltd. in an all-share deal that values the explorer at 57.1 million pounds ($87 million).

New ROV support vessel Fugro Aquarius delivered in Brazil

Fugro has taken delivery of the new ROV support vessel (RSV) Fugro Aquarius, the most advanced vessel of her type built in Brazil.

Petrobras implements strike contingency plan

Petrobras has managed to reduce the impact of the strike on its operations by implementing its contingency plan, the Rio De Janeiro-based company announced Thursday night.

Despite corruption probes, Brazil will drive FPSO industry growth to 2019: GlobalData

Brazil will lead global growth in the Floating Production, Storage and Offloading vessel (FPSO) industry despite the country’s national oil company, Petrobras, recently facing allegations of corruption, research and consulting firm GlobalData said.

Pre-salt production tops 1 MMboed, Petrobras says

Production of oil and natural gas from facilities operated by Petrobras in the pre-salt layer exceeded 1 MMboed during September, with output averaging 1.028 MMboed, and reaching a record level of 1.12 MMboed on Sept. 15.