News

Month: January 2020

ANP Director Decio Oddone submits resignation

***The following is a free translation of the resignation letter submitted by ANP Director Decio Oddone earlier this month*** His Excellencies President of the Republic Jair Bolsonaro and Minister of Mines and Energy Bento Albuquerque, The oil, gas and biofuels industry in Brazil is experiencing a unique moment. In 2016, when I

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Changes on the way for Sépia and Atapu

The government will reduce the value of the signing bonus or decrease the percentage of oil sharing required for the Sépia and Atapu pre-salt oil fields, according to Special Secretary for Finance Waldery Rodrigues. The two fields did not receive offers during the Transfer of Rights mega auction last year.

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Petrobras eyes Espírito Santo exit

Earlier this month, Petrobras took a step forward in the sale of its participation in two deep-water concessions in the post-salt, Polo Golfinho and Polo Camarupim in the Espírito Santo Basin. The move is in accordance with Petrobras’s divestment guidelines, aiming to optimize its portfolio and improve capital allocation in

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Brazil sets new production record in 2019

Oil production in Brazil reached 1.018 billion barrels in 2019, an increase of 7.78% YoY. As for natural gas, total production came in at 44.724 billion cubic meters for the year, an increase of 9.46%. Pre-salt production was 633.980 million barrels of oil and 25.906 billion cubic meters of natural

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BPS and TGS presented the 3D PSM study of the Sergipe-Alagoas Basin

TGS CEO Kristian Johansen and BPS Exploration and Production Director Sidnei Rostirolla. Photo: Renato Wrobel. Last Tuesday (21), we had the pleasure of hosting more than 60 industry leaders from various oil majors at our offices in Copacabana to present our all-new 3D Petroleum Systems Modeling and Resource Assessment Study of the Deep

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2020: What to expect for Brazil’s E&P industry

With the approval of important structural reforms and the government’s intention to completely overhaul the O&G agenda, Brazil’s business environment for E&P is set to take off. We expect regulatory improvements related to the pre-salt and environmental licensing, as well as increased exploration efforts, a stronger focus on the decommissioning and

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