News

Month: October 2019

OTC Brasil 2019 hits Rio next week

Next week (October 29-31), the heart of Brazil’s O&G sector, Rio de Janeiro, will host OTC Brasil 2019, without a doubt the most important industry conference in the country. With three jammed-packed days of exhibitions, interactive sessions and technical talks, OTC will bring together the leaders that are actively shaping Brazil’s

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Our take on the results

The results clearly show the companies’ focus on the pre-salt reservoirs around the PSA polygon. The blocks in the Pernambuco-Paraíba, Jacuípe and Camamu-Almada frontier basins received no bids, demonstrating the current risk aversion of the participating companies. The Campos Basin received the biggest offers, with the most promising blocks being acquired

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16th bidding round raises record R$8.915 billion in signing bonuses

ANP’s 16th Bidding Round brought in R$8.9 billion (approx. US$2.17 billion) in signing bonuses, a record for concession rounds in Brazil. The round will generate investments of at least R$1.58 billion in the first phase of the concession contracts (exploration phase) alone.  Twelve of the 36 maritime blocks on offer

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16th bidding round set for Thursday

The 16th Bidding Round will take place this Thursday (10/10). 36 blocks in the Pernambuco-Paraíba, Jacuípe, Camamu-Almada, Campos and Santos maritime sedimentary basins will be on offer, totaling 29,300 km². With the exception of Enauta and Petrobras, all registrants are foreign, with only Petronas never having worked in oil and

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Brazil oil and gas production sets new record in August

According to ANP, oil and natural gas production in Brazil totaled 3.828 million barrels of oil equivalent per day in August, a new record. Oil production was approximately 2.989 million barrels per day, an increase of 7.7% from the previous month and 18.5% from August 2018. The volume exceeded the

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Petrobras production unit shut down due to irregularities

An oil production unit supporting the operations of Petrobras has been paralyzed since September 19 due to regulatory issues. The nature of the irregularities remains unclear. However, the operator (Modec) said the stoppage resulted from Operation Black Gold, a joint operation between a range of authorities, including the Brazilian federal police and labor

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Oil washes up on Brazil’s northeast coast

Brazil’s environmental agency IBAMA said last Thursday (26) that analysis of a vast oil spill along the country’s northeastern beaches showed the crude did not originate in the country. The spill spans over 1,500 km of Brazil’s northeast coast, affecting wildlife and polluting some of the region’s postcard beaches. ANP believes the oil could

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6th pre-salt bidding round set for November 7

Five blocks across a total area of about 8,640 km² in the pre-salt Campos and Santos sedimentary basins will be on offer in the 6th pre-salt bidding round on November 7. The concession agreements resulting from the round are expected to be signed by March 2020. ANP has announced the auction will take place under the

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Stage set for Transfer of Rights mega-auction

Last Wednesday (25), Finance Minister Paulo Guedes finalized an agreement with leaders of the National Congress to slice up the proposed legislation for the Transfer of Rights mega-auction, clearing the last legislative hurdle and guaranteeing the auction will go ahead as planned. It was agreed that only the text that allows for the

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