Brazil’s PPSA sets pre-salt oil auction
Brazil PPSA said that the oil will be awarded under one-year commercialisation contracts for each of the offshore Mero, Lula and Sapinhoá fields, covering 1.8 million barrels, 1.1 million barrels and 115,000 barrels, respectively.
In May 2018, Brazil’s Senate passed a presidential decree allowing PPSA to sell the government’s share of hydrocarbons from the pre-salt layer. The first auction, held later that month, saw only Shell participate.
In other news from Brazil, NOC Petrobras’ output from the offshore Campos Basin has dipped to its lowest level in 17 years, settling at 1.04 million bopd. According to the company, much of the drop is due to declining production from mature fields.
Recent Posts
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea, Subsea7 sign long-term deal with Equinor
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
Presight AI takes 49% stake in ADNOC energy AI player
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
Wood wins TotalEnergies North Sea flare recovery work
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More