Latin America ///
The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply.
TechnipFMC has been awarded a contract by an affiliate of Exxon Mobil Corp. for the engineering, manufacture and delivery of the subsea equipment for the proposed Liza deepwater project.
Argentina’s Vaca Muerta, one of the largest shale formations outside of North America, offers tons of promise for the country’s energy future. Just don’t hold your breath waiting for it.
Fluor Corporation has announced that it was selected by BP Trinidad and Tobago (BP) to perform the front-end engineering and design (FEED) for the Cassia Compression Project off the east coast of Trinidad and Tobago. Fluor booked the undisclosed contract value into backlog during first-quarter 2017.
TechnipFMC and DOF Subsea announce that the Skandi Búzios, a pipelay support vessel (PLSV) owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its eight-year charter contract with Petróleo Brasileiro S.A. (Petrobras), as scheduled on April 13, 2017.
Schlumberger President of Operations, Patrick Schorn, and YPF Chairman, Miguel Ángel Gutiérrez, have signed an agreement to start a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, Neuquén.
A turnaround for Venezuela’s oil industry, the lifeblood of the South American country’s ailing economy, would take at least two years under the best of circumstances.
EM&I has received a master services agreement from Seadrill, which will form the basis of its long-term relationship with Seadrill, one of the largest drilling contractors in the world.
Wood Group was awarded a multi-year contract from Karoon Petróleo & Gás to provide owner’s engineering services to support the full field development for the Echidna field offshore Brazil marking the first project between the two companies.
Packers Plus Energy Services Inc. recently worked with Compañía General de Combustibles (CGC) to complete a 10-stage StackFRAC HD multi-stage system, the first well completed with ball-activated technology in southern Argentina's Santa Cruz province.
Exxon Mobil announced today positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara.
Fugro is to boost its marine site characterization services for the oil and gas industry in the Republic of Guyana, with a new strategic alliance with Ground Structures Engineering Consultants Ltd.
Further to the Company’s announcement on March 10, 2017, President Energy has announced that the second workover of a previously producing well, DP1001, at Dos Puntitas field, has achieved successful production substantially ahead of rates prior to it being shut-in.
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 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 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.
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.
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 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.
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.