Brazil upstream news

TotalEnergies has announced first oil from the third development phase of the Mero field on the Libra block, located 180 km off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos Basin.

Under Brazilian law, an appeal phase must follow, during which the effects of the annulment ruling are suspended.

The contracts were signed for a total of 4 blocks, S-M-1813 in the Santos Basin, P-M-1737/39/97 in the Pelotas Basin, acquired from the 4th Permanent Concession Offer Cycle, all located offshore Brazil.

The platform can produce up to 100 000 bpd of oil in the Espírito Santo portion of the basin.

SLB’s OneSubsea joint venture has been awarded a major contract by Petrobras for the Roncador project, offshore Brazil.

Petrobras has reported that the Total Utilization Factor (FUT) of its refineries reached 96.8% in September, representing the highest monthly result in 2024.

Petrobras and Colombia's state-run oil and gas company, Ecopetrol, have reported two major gas discoveries in the country's offshore basins.

Brazilian oil company Prio has agreed to acquire a 40% interest in the Peregrino and Pitangola Fields, jointly known as Peregrino, in the Campos Basin, offshore Brazil, for US$1.92 billion (10.43 billion reais).

Brazilian oil giant Petrobras is set to reopen a closed oil well in its large offshore Roncador field in a bid to quickly obtain natural gas, reports Reuters.

Vallourec enters into a definitive agreement to acquire from Mattr 100% of the shares of its subsidiary Thermotite do Brasil Ltda.