Regional Archives - Panorama Insurance Brokers

Total confirms plans underway to deliver first oil at Suriname Block 58 by 2025

French oil major total has confirmed that plans are underway to begin developing oil fields at Suriname’s Block 58 as early as 2025, around five years after the first major discovery was made at Maka Central-1, mirroring the rapid development ramp up seen in neighbouring Guyana by ExxonMobil. According to a March 6, 2021 report… Read More

Guyana condemns incursion of Venezuelan fighter jets at Eteringbang

Guyana’s Ministry of Foreign Affairs on Wednesday issued a statement condemning the incursion of Venezuelan fighter jets into Guyana’s airspace on March 2, 2021. Below is the full statement: PRESS STATEMENT The Ministry of Foreign Affairs of the Cooperative Republic of Guyana wishes to inform that on Tuesday, March 2, 2021 at approximately 13:20 hrs.,… Read More

Concerned about ‘oil leaving underground’ Colombia looking to boost pace of investments

Colombia, which holds regular licensing rounds to invite investment in its upstream sector, has recently undertaken what National Hydrocarbons Agency President Jose Armando Zamora called a “full review of our contract offering for bidding rounds,” building on its attractiveness to investors. In a report published by S&P Global Platts on Monday, Zamora is quoted as… Read More

Suriname lines up new shore base port

(Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms of discovered oil and gas reserves. And all this from just one offshore find in Block 58, and without counting a first promising recent discovery in Block 52. Major stakeholders, including the Government of Suriname, have… Read More

SBM Offshore is sole bidder for giant Brazil FPSO

Brazil’s state-controlled oil company Petrobras received only one proposal, from Dutch floater specialist SBM Offshore, in a bid to construct the Mero 4 oil production platform in the Santos Basin pre-salt, two sources with knowledge of the matter told Reuters. Petrobras’ business plan foresees Mero 4 entering operation in 2025 with a capacity to produce… Read More

Brazil’s Enauta restarts production well after shutting down to replace oil heaters

(S&P Global Platts) Brazilian independent oil and natural gas producer Enauta restarted a single production well at the offshore Atlanta Field, pumping about 10,400 b/d as expected, the company said Feb. 22. The 7-ATL-4HB-RJS well was restarted after swapping out pipes to one of the well’s oil heaters, Enauta said. This was the same well… Read More

Eight Suezmaxes booked out of Guyana so far this year as output set to balloon – Platts

(S&P Global Platts) A partial easing of US sanctions on Venezuela on humanitarian grounds could pump Caribbean-loading cargoes into the Aframax and Suezmax markets, reviving the traditional local and long-haul Caribbean-loading routes. Uncertainty on the Biden administration’s approach to sanctioned oil-producing countries leaves the Americas dirty tanker market awaiting signals reversing previous administration policies. The… Read More

Credit agencies should reward oil majors for natural gas developments

By Arthur Deakin – OilNOW On January 26, one of the most influential credit rating agencies in the world, Standard & Poor’s (S&P), said it was considering downgrading the rating of 13 major oil and gas producers, including ExxonMobil, Shell and Total. S&P said that these firms were struggling with the global energy transition, commodity… Read More

Bahamas well fails to deliver commercial crude

The Perseverance #1 well in The Bahamas did not encounter hydrocarbons in commercial quantities, Bahamas Petroleum Company (BPC) announced on Monday. The well reached a depth of approximately 3,900 meters without incident and will now be permanently plugged and abandoned. It was spudded by the Stena IceMAX drill ship. BPC said over the coming weeks… Read More

Africa, Americas lighting up deepwater exploration this year

Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemic, but the overall results were nevertheless positive, a Rystad Energy analysis reveals. The success rate rose to 41% from 32% in 2019 and pushed discovered volumes to 3.2 billion barrels of oil equivalent (boe), a four-year high. High-impact… Read More