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Showing posts with label pre-salt fields. Show all posts
Showing posts with label pre-salt fields. Show all posts
04 September 2010
BRASIL: Petrobras To Sell $65 Billion...Or More... Of New Stock.
19 November 2009
BRASIL: Petrobras Reports High Flow Rate At Iracema Pre-salt.
REUTERS/
High flow rates lets companies produce those fields with fewer wells -- which cost more than a hundred million dollars each. Petrobras says the Iracema well could have initial production rates of 50,000 bpd. Iracema is in the same block as the Tupi field, the largest find of Brasil's subsalt region with an estimated 5 billion to 8 billion barrels of oil that excited investors when it was announced in 2007.
High flow rates lets companies produce those fields with fewer wells -- which cost more than a hundred million dollars each. Petrobras says the Iracema well could have initial production rates of 50,000 bpd. Iracema is in the same block as the Tupi field, the largest find of Brasil's subsalt region with an estimated 5 billion to 8 billion barrels of oil that excited investors when it was announced in 2007.
09 October 2009
Petrobras Refines First Pre-Salt Oil From Tupi Field.
LAHT/
The processing of the first 264,000 barrels from the Tupi field began at the Revap refinery in Sao Jose dos Campos, Sao Paulo state.
The company says the oil extracted from Tupi is of high quality (29.2 degrees API) with low sulfur content.
“The oil in the Tupi area also is low in naphthenic acids and (is promising in terms of) profitability, since it (is not the type that) produces diesel, which is the lowest value-added product."
The processing of the first 264,000 barrels from the Tupi field began at the Revap refinery in Sao Jose dos Campos, Sao Paulo state.
The company says the oil extracted from Tupi is of high quality (29.2 degrees API) with low sulfur content.
“The oil in the Tupi area also is low in naphthenic acids and (is promising in terms of) profitability, since it (is not the type that) produces diesel, which is the lowest value-added product."
08 October 2009
Petrobras Seeks Bids For 28 Offshore Oil Platforms.
LAHT/
Bids for the 28 new oil platform rigs used by Petrobras to exploit pre-salt reserves off Brasil’s southeastern coast must be built in Brasil. Seven of the platforms are to be drill ships and the rest either drill ships, semi-submersible or mono-column platforms ready between 2013 and 2017.
Petrobras will purchase 8 platforms and lease the remaining 20.
Bids for the 28 new oil platform rigs used by Petrobras to exploit pre-salt reserves off Brasil’s southeastern coast must be built in Brasil. Seven of the platforms are to be drill ships and the rest either drill ships, semi-submersible or mono-column platforms ready between 2013 and 2017.
Petrobras will purchase 8 platforms and lease the remaining 20.
07 October 2009
Petrobras To Liquify Pre-Salt Gas For Transport.
BLOOMBERG/
Petrobras may transport gas from its pre-salt offshore fields in liquefied form.
“A non-conventional solution, like a floating liquefied natural gas unit, can be the necessary solution to transport gas from pre-salt fields to the coast,” Maria das Gracas Foster said.
Brazil’s natural-gas production will more than triple next year to 55 million cubic meters from 16 million in 2008, Foster said. The country’s demand will almost triple to 168 million cubic meters by 2020, from 58 million last year, she said.
Petrobras may transport gas from its pre-salt offshore fields in liquefied form.
“A non-conventional solution, like a floating liquefied natural gas unit, can be the necessary solution to transport gas from pre-salt fields to the coast,” Maria das Gracas Foster said.
Brazil’s natural-gas production will more than triple next year to 55 million cubic meters from 16 million in 2008, Foster said. The country’s demand will almost triple to 168 million cubic meters by 2020, from 58 million last year, she said.
18 September 2009
Brasil Views Itself As Next Oil Superpower.
MERCOPRESS/
Brasil's Energy Minister Edison Lobo said the vast potential of its pre-salt region, an estimated 50-80 billion barrels of oil equivalent, could produce some 3.8 million barrels per day within 10 years, or double its current output.
Brasil's Energy Minister Edison Lobo said the vast potential of its pre-salt region, an estimated 50-80 billion barrels of oil equivalent, could produce some 3.8 million barrels per day within 10 years, or double its current output.
10 September 2009
$65 Oil Pays For Brasil's Sub-Salt Plan.
REUTERS.
Petrobras executive Jose Sergio Gabrielli says that the company could pay for planned investments in the pre-salt fields for the next five years without additional capital IF the price of oil stayed around $65 a barrel.
Petrobras executive Jose Sergio Gabrielli says that the company could pay for planned investments in the pre-salt fields for the next five years without additional capital IF the price of oil stayed around $65 a barrel.
Brasil's Lula Withdraws Pre-Salt Oil Regulations Deadline.
BLOOMBERG.COM.
Brasil’s Congress will likely pass new regulations for deepwater oil fields off the coast of the South American country within seven months, with the lower house probably voting on the rules by Nov. 10.
Lula withdrew an urgency clause attached to legislation he sent to Congress governing exploration of the pre-salt oil area, easing concerns of opposition lawmakers by giving both houses more time to debate the bills.
Brasil’s Congress will likely pass new regulations for deepwater oil fields off the coast of the South American country within seven months, with the lower house probably voting on the rules by Nov. 10.
Lula withdrew an urgency clause attached to legislation he sent to Congress governing exploration of the pre-salt oil area, easing concerns of opposition lawmakers by giving both houses more time to debate the bills.
09 September 2009
Petrobras Ready To Start Production In Pre-Salt Guara Field. Claims 2 Billion Bbls.
BLOOMBERG.
Petribras and BG Group claim the deepwater Guara field holds between 1.1 billion and 2 billion barrels of oil.
Petrobras has ended tests on the exploratory well at Guara in the pre-salt field and will build a production platform.
Petribras and BG Group claim the deepwater Guara field holds between 1.1 billion and 2 billion barrels of oil.
Petrobras has ended tests on the exploratory well at Guara in the pre-salt field and will build a production platform.
04 September 2009
Brasil's Oil Finds Will Make It #8 In World Reserves.
LAHT.
Brasil currently has 14 billion barrels of proven reserves, but that total could rise to 80 billion just with the “pre-salt” areas already under concession.
Almost all the new oil will be exported because Brasil is energy self-sufficient and plans to maintain its current energy mix, 46 percent of which is based on renewable sources.
Brasil currently has 14 billion barrels of proven reserves, but that total could rise to 80 billion just with the “pre-salt” areas already under concession.
Almost all the new oil will be exported because Brasil is energy self-sufficient and plans to maintain its current energy mix, 46 percent of which is based on renewable sources.
26 August 2009
Brasil To Take 71% Control Of Pre-Salt Reserves.
LAHT.
Until now, companies with concessions to drill for oil in Brasil have been able to retain ALL of the crude in exchange for paying taxes and royalty.
But under the new regulations, firms working in the pre-salt fields will have to SHARE the oil with the government.
President Lula da Silva said that while 29 percent of what are known as the “pre-salt” deposits lie within concessions already granted to private firms, the remainder will be reserved for consortiums that include the state as a partner.
Until now, companies with concessions to drill for oil in Brasil have been able to retain ALL of the crude in exchange for paying taxes and royalty.
But under the new regulations, firms working in the pre-salt fields will have to SHARE the oil with the government.
President Lula da Silva said that while 29 percent of what are known as the “pre-salt” deposits lie within concessions already granted to private firms, the remainder will be reserved for consortiums that include the state as a partner.
20 August 2009
Petrobras To Boost Pre-Salt Santos Field Drilling.
WSJOURNAL.
Petrobras hopes to have 10 drilling rigs in the deepwater basin in 2010, up from six rigs currently drilling in the region.
Petrobras hopes to have 10 drilling rigs in the deepwater basin in 2010, up from six rigs currently drilling in the region.
18 August 2009
Brasil Seeks More Control Of Its Deep Sea Oil Fields.
NYTIMES.
In a nationalistic move to increase benefits from its natural resources power, Brasil is stepping back from close cooperation with foreign oil companies and trying to directly control oil extraction.
In a nationalistic move to increase benefits from its natural resources power, Brasil is stepping back from close cooperation with foreign oil companies and trying to directly control oil extraction.
11 August 2009
Petrobras Ranks #4 In Largest Companies in Americas.
Brazzilmag.
An inflated stock price based mostly on hype about enormous pre-salt oil fields has raised Petrobras' value.
"According to figures supplied by Economática, Petrobras' market value has gone from US$ 95.84 billion, as of December 31st, 2008, to US$ 173.59 billion, as of August 4.
The company was surpassed only by the American companies ExxonMobil (US$ 344.5 billion), Microsoft (US$ 211.8 billion) and Wal Mart (US$ 196.2 billion).
Last year, Petrobras ranked 17th in the list, which does not include Canadian companies."
An inflated stock price based mostly on hype about enormous pre-salt oil fields has raised Petrobras' value.
"According to figures supplied by Economática, Petrobras' market value has gone from US$ 95.84 billion, as of December 31st, 2008, to US$ 173.59 billion, as of August 4.
The company was surpassed only by the American companies ExxonMobil (US$ 344.5 billion), Microsoft (US$ 211.8 billion) and Wal Mart (US$ 196.2 billion).
Last year, Petrobras ranked 17th in the list, which does not include Canadian companies."
06 August 2009
US To Loan Petrobras $10 Billion For Pre-Salt Exploration.
From the LAHT.
The US government apparently buys into the Petrobras pre-salt bubble...matching China's $10 billion loan.
The US government apparently buys into the Petrobras pre-salt bubble...matching China's $10 billion loan.
28 July 2009
Petrobras Stock DROPS On Several DRY Pre-Salt Wells!
From Bloomberg.
Nine of 28 wells drilled were found to be dry or not commercially viable in Brasil's much-hyped pre-salt Campos and Santos fields.
I gotta say once again...I just KNEW the pre-salt fields...were too hyped to be true!
Nine of 28 wells drilled were found to be dry or not commercially viable in Brasil's much-hyped pre-salt Campos and Santos fields.
I gotta say once again...I just KNEW the pre-salt fields...were too hyped to be true!
20 July 2009
14 July 2009
Was Exxon's Dry Well In Brasil's Tupi Field A "One-Off?"
From Bloomberg.
Another dry hole in Brasil's Tupi pre-salt field...hyped as a gargantuan oil find...everywhere... except here...has Petrobras execs scrambling to explain the failure.
Another dry hole in Brasil's Tupi pre-salt field...hyped as a gargantuan oil find...everywhere... except here...has Petrobras execs scrambling to explain the failure.
05 July 2009
25 June 2009
Brasil's Pre-Salt Fields Workable at $40 Bbl.
State-controlled oil company Petrobras says that production from the "pre-salt" oil fields deep below the ocean floor off Brazil’s Atlantic coast can be extracted... at $40 a barrel barrel.
http://www.laht.com/article.asp?ArticleId=337875&CategoryId=14090
http://www.laht.com/article.asp?ArticleId=337875&CategoryId=14090
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