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Eighth platform at the Lula field begins production category
Oct. 25, 2018
Source: Compelo

Eighth platform at the Lula field begins production

Production has commenced from the eighth platform installed in the Lula field, offshore Brazil. The BM-S-11 concession is operated by Brazilian state-owned, Petrobras where Shell and Petrogal Brasil are partners. Oil and natural gas is being produced from the P-69 FPSO in the Lula field through eight producing wells and utilising seven injection wells. Lula field entered into production phase in October 2010.

JV of Petrobras and Murphy category
Oct. 12, 2018
Source: World Oil

JV of Petrobras and Murphy

Petrobras’ subsidiary, Petrobras America Inc. and Murphy Oil Corporation’s subsidiary Murphy Exploration & Production Company have signed an agreement to form a joint venture (JV) comprised of oil producing assets in the Gulf of Mexico. Both the companies will contribute their present assets of Gulf of Mexico, with Murphy having 80% interest and PAI 20%. The production of this JV is expected to be approximately 75,000 boed in fourth-quarter 2018.

Aker Solutions to deliver production system to Petrobras category
Oct. 6, 2018
Source: Energy Voice

Aker Solutions to deliver production system to Petrobras

The subsea production system for Petrobras’ Mero 1 project will be supplied by Norway’s Aker Solutions. The subsea production system, which will consist of 12 vertical subsea trees, will be manufactured at the São José dos Pinhais and Rio das Ostras facility. The Norwegian energy service company is already working on the project, with deliveries scheduled for 2020. The subsea production system will be hooked up to Guanabara FPSO.

Heavy fines on Petrobras category
Sept. 28, 2018
Source: MRT

Heavy fines on Petrobras

Brazilian state-owned Petrobras was yesterday charged by the Securities and Exchange Commission (SEC) for misleading US investors. SEC alleged that Petrobras falsely showed payments made by US investors as expenditures to "acquire and improve assets". This inflated the actual value of the Petrobras’ assets by an approximately $2.5 billion. Petrobras will pay $853 million penalty, as well as $933 million in disgorgement and prejudgment interest to settle all the charges.

Campos’ contract goes to Aker category
Sept. 19, 2018
Source: World Oil

Campos’ contract goes to Aker

Norwegian oil services company, Aker Solutions has bagged a contract from Petrobras for the oil and gas fields in the Campos basin. Under the scope of this deal, offshore production units for Campos’ basin Operational Unit (UO-BC) will be renovated, repaired and upgraded by Aker Solutions. CEO of Aker commented on this agreement and said that the company is pleased to expand its business in Brazil.

Brazil stands tall with record oil export category
Aug. 3, 2018
Source: Reuters

Brazil stands tall with record oil export

Crude oil export from Brazil climber 50% higher than 2017, hitting 8.1 million tonnes peak last month. Brazilian Government data showed nearly three times jump in Brazil’s crude shipments from June stats. State-run Petrobras began operations on the platforms in Buzios field and Tartaruga field in June. The Brazilian government refrained from commenting over the record July export statistics.

Petrobras agrees on a settlement of $3.5mn category
July 26, 2018
Source: Reuters

Petrobras agrees on a settlement of $3.5mn

If sources were to be believed, the US unit of Petrobras has agreed to settle a lawsuit over alleged toxic emissions from its Pasadena oil refinery by paying $3.5mn. The Petrobras subsidiary will additionally pay a $350,000 penalty to the U.S. government for emitting SOx and other pollutants over permitted levels. The settlement has come at a time when the company is planning to sell the 112,229 bpd capacity refinery.

Petrobras releases June O&G production stats category
July 18, 2018

Petrobras releases June O&G production stats

Brazilian stat-owned, Petrobras, yesterday released statistics of its oil and gas production in June. Petrobras’ total production of oil and gas, including natural gas liquids (NGL), for June, was around 2.62 million barrels of oil equivalent per day (boed), out of which 2.53 million boed was domestic production and 98, 000 boed production overseas.

TechnipFMC secures subsea service contract category
July 17, 2018
Source: Business Wire

TechnipFMC secures subsea service contract

EPC giant, TechnipFMC has entered into a 3-year long master services agreement with Brazilian oil major, Petrobras to provide subsea services in Brazil. The agreement covers technical assistance, maintenance services, inspection and end-fitting re-termination of flexible pipes and umbilicals, installation support and engineering analysis of operations and installation conditions, among other services.

Petrobras processing more, exporting less category
July 12, 2018
Source: Reuters

Petrobras processing more, exporting less

Brazilian oil major, Petrobras in a statement said that its refinery output saw a hike, while a sharp decrease in crude oil exports was observed in June. Brazilian Government had to promise subsidized diesel prices to end a trucker’s strike. Adhering to the Government’s directive, Petrobras had to direct its crude supply towards refineries to produce more fuel, due to which Brazil’s crude export fell 53.8% to 2.86 Mbpd.

Petrobras to enter clean energy market category
July 11, 2018

Petrobras to enter clean energy market

With a plan to invest in solar and on-shore wind projects in Brazil, oil major Petrobras, has joined forces with its strategic ally, Total and its renewable energy subsidiary, Total Eren. They have signed a non-binding Memorandum of Understanding (MoU) to analyze the possibilities of business development in solar and wind in Brazilian market which follows a strategic partnership agreement sealed by Total and Petrobras in February 2017.

Petrobras fined $622m for contract breach category
July 3, 2018
Source: Reuters

Petrobras fined $622m for contract breach

An international tribunal fined Petrobras yesterday with a whopping $622 million for breaching a 2009 contract with a unit of Vantage Drilling. Petrobras found out that its executive had unduly awarded Vantage a contract, and notified Vantage in 2015 that its contract has been terminated, claiming Vantage breached terms. In return, Vantage filed an arbitration claim against PAI, PVIS and Petrobras reasoning for “wrongful termination.”

Petrobras initiates production at Tartaruga Verde field category
June 26, 2018
Source: Xinhua

Petrobras initiates production at Tartaruga Verde field

Brazilian state-owned Petrobras yesterday announced that the company had started production at the Tartaruga Verde (Green Turtle) gas field. Production began on last by means of a floating production storage and offloading (FPSO) unit. Stating about the FPSO, Petrobras said that the unit is capable of processing daily up to 150,000 barrels of oil, 3.5 million cubic meters of gas and 5 million cubic meters of compressed gas.

Petrobras’ contract with DOF, TechnipFMC begins category
June 15, 2018
Source: E&P

Petrobras’ contract with DOF, TechnipFMC begins

Skandi Recife, a Brazilian-flagged flexible lay and construction vessel, has begun operations under its eight-year charter contract with Petrobras. The vessel is owned by the joint venture (JV) formed between TechnipFMC and DOF. TechnipFMC has to look after flexible pipelay, while DOF Subsea will be accountable for marine operations. The vessel will operate in the Campos, Santos and Espírito Santo basins.

Equinor bags exploration rights offshore Brazil category
June 10, 2018
Source: Compelo

Equinor bags exploration rights offshore Brazil

The Brazilian oil regulators National Agency of Petroleum, Natural Gas and Biofuels (ANP) has awarded Equinor exploration rights for the Uirapuru and Dois Irmãos blocks in the pre-salt area offshore Brazil. The Norwegian oil major joined forces with ExxonMobil (combined stake 28%) and Petrogal Brasil (14%) for the Uirapuru block, and with Petrobras and BP for the Dois Irmãos block. The exploration rights have added highly prospective acreage to Equinor’s exploration portfolio.

BP and Petrobras to explore joint projects in Brazil and beyond category
April 16, 2018
Source: World Oil

BP and Petrobras to explore joint projects in Brazil and beyond

British Petroleum (BP) has signed a MoU with Petrobras for exploring areas of potential cooperation in areas of mutual interest in upstream, downstream, trading and across low carbon initiatives, inside and outside Brazil. It is expected that through this alliance, the transfer of technology will take place along with joint training and research.

Petrobras and Kerui group signed USD 587 m contract to build natural gas processing unit category
March 31, 2018
Source: Reuters

Petrobras and Kerui group signed USD 587 m contract to build natural gas processing unit

In order to attract global contractors, Petróleo Brasileiro, the Brazilian state-controlled oil company signed a $587 million contract with China’s Shandong Kerui Petroleum Equipment Co. to build a natural gas processing unit. The plant is to be built about 59 km to the east of Rio de Janerio and Petrobras said that the construction work shall commence by the end of the year.

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