Rystad Energy has released its annual global energy outlook, which claims that the Covid-19 downturn will expedite peak oil demand.
The contract for the lease and operation of the BW Cidade de São Vicente will now expire on 9 October 2020.
The survey is located south of the high-profile discoveries in the Santos Basin and the recent sought-after blocks offered in Rounds 15 and 16.
The sale is in line with the company's decision to focus its resources increasingly on deep and ultra-deep waters.
Shell is the operator of the block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%.
ABS is providing detailed guidance on navigating the unique regulatory environment for offshore operators in Brazil.
Petrobras has started well testing of the Forno area in the Albacora field, located in the Campos Basin pre-salt.
The new class notation IVBS-BRA developed by Bureau Veritas will help clients to demonstrate compliance with Brazilian regulations for operating FPSOs and FPUs in the country's deepwaters.
Petrobras is revising all exploration and production projects as a result of its new oil pricing assumptions.