Brazil Archives - Panorama Insurance Brokers

Total drops operator role for five exploration blocks in Brazil

French multinational oil and gas company Total said on Monday it had notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore Brazil. These exploration blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127.  “Total has informed… Read More

Oil and gas companies continue to fold under severe pressure even as Guyana offshore blooms

The COVID-19 pandemic is adding severe financial strain on a North American upstream industry that was already reeling under billions of dollars of debt. This comes at a time when prospects on the South American north coast continue to look favourable, with companies such as US oil major, ExxonMobil, ramping up operations in Guyana. With… Read More

Guyana ranks 3rd in the world for FPSO deployments through 2025 – GlobalData says in new report

The South American country of Guyana is expected to deploy a minimum of three more Floating Production Storage and Offloading units (FPSOs) during the period 2020-2025, placing it at number 3 in the world for floating production vessels, along with Australia and Angola. With the Liza Destiny FPSO already producing oil at the Stabroek Block,… Read More

Libra Consortium takes final investment decision on Mero-3 FPSO in Brazil

Shell announced said Tuesday a final investment decision has been taken by the Libra Consortium, operated by Petrobras, to contract the Mero-3 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field within the offshore Santos Basin in Brazil. This is the third production system to be deployed in the Mero field,… Read More

Petrobras-led Libra Consortium awards TechnipFMC ‘large’ contract

TechnipFMC is reporting that it has been awarded a large contract for Engineering, Procurement, Construction, and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader and operator of the Libra Consortium. That consortium, which was formed by Petrobras, Shell Brasil, Total, CNPC, CNOOC Limited and Pré-sal Petróleo SA (PPSA), is getting set for… Read More

Over 3 million bpd to be sanctioned in Guyana, Brazil even as industry takes a hit globally

Oil projects off the coast of South America have lower breakeven prices and competitive payback times in comparison to similar projects in other parts of the world, which makes them more resilient in the current turbulent times, Norway-based Rystad Energy has outlined in a new analysis. “Offshore activity in Latin America is expected to recover… Read More

Shell’s $780 million dry hole dims outlook for Brazil oil

(Bloomberg) Royal Dutch Shell Plc has just drilled a dry hole in Brazil’s premier offshore region, a sign state-controlled Petrobras may have already grabbed the best oil deposits and left competitors hunting for smaller game. Shell completed its first well at the high-profile Saturno prospect on June 13 without reporting any discoveries, according to drilling… Read More