November 30, 2011 - by PreSalt.com - Source: Agencia Petrobras
Petrobras has made a new discovery of good quality oil during drilling of the well 4-BRSA-946C-SPS, informally known Biguá. The well is located in block BM-S-8 in the ultra deepwaters of pre-salt in the Santos Basin, 270 km off the coast of São Paulo, Brazil.
Petrobras (SAO:PETR3, SAO:PETR4, NYSE:PBR, NYSE:PBR.A) is the operator of the consortium (66%) in partnership with Shell Petroleum Brazil (LON: RDSA, NYSE: RDS.A) (20%) and Petrogal Brazil - Galp Energia (ELI:GALP, FRA:GZ5, ETR:GZ5) (14%). The participation of Shell was acquired by Barra Energia do Brasil Petroleo e Gas Ltd (10%) and Queiroz Galvão Exploração e Produção SA - QGEP (SAO:QGEP3) (10%), negotiation subject to final approval by the ANP.
Read more... November 30, 2011 - by PreSalt.com - Source: Agencia Brasil
The National Petroleum Agency of Brazil (ANP) should not revoke the license for oil exploration, granted to Chevron, responsible for the accident that spilled about 440,000 liters of oil, equivalent to 2,400 barrels in Frade Field, in the Campos Basin, offshore of Rio de Janeiro. The information was disclosed yesterday (29) by Silvio Jablonski agency representative in a hearing in the Senate. Questions have been raised, not yet proven, that Chevron was drilling to reach the pre-salt without prior authorization.
The field is operated by Chevron (NYSE:CVX, EPA:CHTEX, ETR:CHV, FRA:CHV), which has a 51.74% interest. Other partners include Petrobras (SAO:PETR3, SAO:PETR4, NYSE:PBR, NYSE:PBRA), with 30%, and Frade Japao Petroleo, with 18.26%.
Read more... November 23, 2011 - by PreSalt.com - Source: ANP
The National Agency of Petroleum, Natural Gas and Biofuels of Brazil (ANP) decided (23) the suspension of drilling activities of Chevron (NYSE:CVX, EPA:CHTEX, ETR:CHV, FRA:CHV), the Frade Field, which is operator and has Petrobras (SAO:PETR3, SAO:PETR4, NYSE:PBR, NYSE:PBRA) as a partner, "until the causes are identified and those responsible for oil spill and restore conditions of security in the area."
This resolution suspends all drilling of Chevron in Brazil, including and especially in the pre-salt layer.
Read more... November 23, 2011 - by PreSalt.com - Source: Agencia Brasil
Brazil will be in ten years, the largest oil producer in the world among nations which do not belong to the Organization of Petroleum Exporting Countries (Opec) said today (22) Petrobras President Jose Sergio Gabrielli (SAO:PETR3, SAO:PETR4, NYSE:PBR, NYSE:PBRA), during the balance of second phase of the Brazil's Growth Acceleration Program (PAC 2).
"The pre-salt production has already reached 2% of the average annual oil production in Brazil. Between 2011 and 2015, this will be the the production sector with higher growth," he said. "Outside OPEC, will get to more oil production in the world. Brazil will be the country that will give the largest contribution of oil in the next ten years," Gabrielli said, stressing the predictions of contracting materials, equipment and services, through Petrobras.
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