Brazil upstream news

Reflecting equity volumes produced since the effective date of 1 January 2018 and the deposit paid upon the signing of the transaction, Equinor has paid Petrobras an adjusted cash consideration of US$2 billion.

The top ten planned and announced presalt areas in Brazil will spend over US$220 billion throughout their lifetime in capital and operating expenditure.

Suretank Latin America has designed a new 5000 l portable offshore tank for Petróleo Brasileiro S.A.(Petrobras) which will meet all of the regulations required from all international oil companies (IOCs) operating in Brazil.

Total operates five blocks in the Foz do Amazonas basin (referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127) located around 120 km offshore Brazil. 

Petróleo Brasileiro S.A.’s (Petrobras) liquids production is expected to grow to 2.7 million bpd by 2021.

Petro Rio S.A. has initiated the second phase of its revitalisation plan for the Polvo Field.

Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects.

ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round.

The consideration for the transactions amounts to US$1.95 billion, including closing adjustments.

The move is a response to increasing demands for ship-to-ship transfers to support Brazil’s soaring oil exports.