Regional Archives - Panorama Insurance Brokers

Brazil’s Petrobras targets oil output of 2.7 million b/d by 2025

(S&P Global) Brazilian state-led oil company Petrobras plans to spend $55 billion over the next five years to develop subsalt fields that will boost the company’s crude oil output nearly 20% to 2.7 million b/d by 2025, the company said in a regulatory filing November 25. “The capital allocation adheres to our strategic position, with… Read More

Energy, infrastructure take centre stage in high-level Guyana, Brazil meeting

Guyana’s President, Dr Irfaan Ali on Thursday announced an amplification in bilateral relations between Guyana and Brazil after a meeting among high level government officials from both countries, the Office of the President said in a press statement. The Guyanese President, who returned this morning from Suriname after a four-day official state visit said that… Read More

Tullow says Suriname well campaign on schedule for Q1 2021

Preparations are on schedule for the first well targeted for 2021 by Tullow Oil in the highly prospective Suriname basin where US multinational Apache has already made three discoveries. “In Suriname, the prospective Goliathberg-Voltzberg North-1 well is on schedule to spud in Q1 2021,” Tullow Oil said in an update this week. The Stena Forth… Read More

Maduro seeking meeting with T&T gov’t officials, report says

The Government of Venezuela has invited Trinidad and Tobago (T&T) Government officials to a meeting to discuss matters between the two countries, the Trinidad and Tobago Guardian reported on Wednesday. According to the Guardian, the request was made by President Nicolas Maduro and was confirmed by Venezuela’s Foreign Minister, Jorge Arreaza. “On the instructions of… Read More

South America’s new O&G deepwater players positioning for big opportunities

The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying plans to create new opportunities. Guyana’s President, Dr. Irfaan Ali and his Surinamese counterpart, President Chandrikapersad Santokhi, give this commitment during a joint press conference on Tuesday in Paramaribo. Mr. Ali… Read More

Corentyne River Bridge on agenda as Guyana President makes first state visit to Suriname

Guyana’s President, Dr Mohamed Irfaan Ali, has arrived in Suriname for a state visit over the period November 23 to 26, during which time discussions will be held with President Chandrikapersad Santokhi to build on the issues advanced during the visit of President Santokhi to Guyana last August. The two leaders are expected to finalise… Read More

Suriname offshore breakeven expected to go down with more discoveries

The projected breakeven price for development of oil fields offshore Suriname is expected to reduce in coming years as more discoveries are made, and production gets underway. So far, three discoveries have been made at Block 58, estimated to contain combined resources of 1.4 billion barrels of oil equivalent with a breakeven price of $45/bl…. Read More

U.S extends Chevron’s stay in Venezuela to mid-2021

(S&P Global Platts) The US Treasury said on Tuesday that Chevron and top oilfield services firms can remain in Venezuela until June, extending a wind-down deadline that was set to expire on December 1. The move effectively punts the decision on Chevron’s oil and gas operations in heavily sanctioned Venezuela to the administration of President-elect… Read More

Suriname is 2nd in the world for volume of oil discovered this year, Guyana remains big prize in basin

Of the 73 new discoveries announced this year (through October), Suriname has emerged as the number two location for the volume of oil found, second only to Russia. According to a new report from Rystad Energy, exploration activity has been resilient this year despite the global pandemic, with discovered resources already exceeding 8 billion barrels… Read More

Staatsolie opens new bid round for 8 blocks offshore Suriname

Eight blocks covering an area of over 13,524 km2 of underexplored but highly prospective acreage in the western part of the Suriname offshore basin went on offer on Monday by Staatsolie Maatschappij Suriname N.V. According to bid documents seen by OilNOW, the acreage lies directly in the migration pathway between the giant onshore producing fields… Read More