Brazil upstream news

Petrobras is the company in the global oil and gas market whose investment has grown the most. In 2023, the company practically doubled its investment effort, totalling US$ 21.4 billion between direct investments and assets related to the leasing of production units, compared to an amount of US$ 10.9 billion in 2022.

SLB has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield.

Petro-Victory Energy has provided an update on the workover campaign to increase oil production in the 100% owned São João field in the Barreirinhas Basin in Maranhão, Brazil.

MODEC has announced that it has been successful in securing the front-end engineering and design (FEED) for a floating production, storage and offloading (FPSO) system for Shell do Brasil Ltda (Shell) on the Gato do Mato development, offshore Brazil.

Researchers from Petrobras, the Geological Survey of Brazil (SGB), and 10 universities from the states that make up the geographical region of the Equatorial Margin, as well as two research institutions from the Southeast, has embarked for a scientific expedition on the Hydroceanographic Research Vessel (NPqHo) "Vital de Oliveira," operated by the Brazilian Navy.

ABL has been awarded a contract by POSH Projects Pte. Ltd. to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai, China, to Brazilian waters.

Baker Hughes has announced a contract award from Petrobras for integrated well construction services in the Buzios field, offshore Brazil.

SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling, were combined to enable 99% of a 2.6 km section to be drilled in autonomous control mode.

Shell Brasil Petróleo Ltd, a subsidiary of Shell plc, has announced the start of production of the FPSO Sepetiba in the Mero field, offshore Santos Basin in Brazil.

TotalEnergies has announced the start of production from the second development phase of the Mero field on the Libra block located more than 180 km off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos Basin.