Brazil upstream news

Brazil is set to award seven more FPSO awards in 2020.

The contracts are for projects in Brazil, Mexico and Nigeria.

The two-year and six month contract will see Halliburton provide drilling and completion services for Petrobras.

A total of 20 planned and announced FPSOs are expected to be deployed offshore Brazil between 2019 and 2025.

The teaser relates to the sale of the company's entire working interest in the Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the Espírito Santo Basin.

Brazil alone is expected to contribute around 18% or 1455 thousand bpd of global crude oil and condensate production from key offshore planned and announced projects (new-build projects) in 2025.

The increase in medium crude from Brazil will be one of the few sources of non-US supply growth this year, says ESAI Energy's Latin America Watch.

The company has agreed to pay a total of US$301.3 million to these authorities to resolve investigations into conduct dating back over a decade ago.

The first oil production by the FPSO is planned for 2022, and the firm time charter period of the contract is 21 years.

The 10% interest in the BM-S8-block in Brazil's Santos basin has been acquired by Equinor from Barra Energia for US$379 million.