Tag: WSB

Petrobras plans to install 11 new platforms to produce in the pre-salt by 2027. With the new projects and the units already in operation, the estimate is that the company will produce 3.1 million boed within four years, of which 2.4 million in the pre-salt. As for production with partners, the company intends to produce 3.6 million boed this year. Since december, the company has already put into production two new pre-salt systems: The P-71, in Itapu field, and FPSO Almirante Barroso in Búzios field, and wants to start operating the third one, with FPSO Sepetiba in Mero field, until the end of this year. In a statement, Petrobras announced that it has reserved US$64 billion for investments by 2027, being 67% destined to the pre-salt.

The National Petroleum Agency (ANP) interdicted the FPSO Cidade de Santos, located in the Uruguá and Tambaú field, in Santos Basin. The decision comes after the agency’s inspectors found “critical deviations” in the vessel’s installations, such as degradation in the pipes and in the fire detection system. The vessel will be interdicted until maintenance is done. The FPSO was near to start decommissioning. The unit went into operation in July 2010 and was expected to close operations in January. The verification was done between the end of August and the beginning of September.The FPSO belongs to MODEC, chartered to Petrobras and is located 160 km off the coast of the State of Rio de Janeiro in a water depth of 1,300 meters. It has the capacity to process 35.000 boed.

Petrobras released a new RFI to screen the market for several vessels on medium to long term basis. The RFI was split into two questionnaires: the first one foreseeing possible demands for PSV, OSRV and AHTS-TS/TO between 2025-2026. Among the information required by Petrobras are mobilization windows for both Brazilian and Foreign flagged vessels within the desired period of 2025-2026, an ideal contract duration for each type of vessel, differentiating between Brazilian and foreign flags and the best validity terms proposal for upcoming tenders. As to the second form, it expects to have answers specifically for 4500 Multipurpose PSVs, OSRVs and RSV with 2 WROVs and Cranes ranging between 100-150T.

Within the questions raised by Petrobras, attention must be drawn to the ones asking how many vessels of these 3 categories are already built in Brazil, what is the average age of each one of the types and an ideal timeframe vs. contract duration that would be attractive enough to build more vessels such as these in Brazil. It appears the current OSV market scenario is becoming clear to Petrobras, mainly if the last tender results are taken into consideration. The questions brought up in this RFI show what is most likely Petrobras’ concerns with an ageing Brazilian built fleet, high utilization levels for core fleet vessels and lack of incentives for more newbuildings in the country.

All of the points are much valid, considering that even Petrobras have not been able to keep up with their own chartering demands based only on existing Brazilian flagged vessels, and the risk to bring foreign flags for a 4-year contract that could easily turn into a 1-year only due to CAA blockings still seems to be something foreign Owners are not willing to go through. The RFI is open for answers until September 6th, 2023 and only technical/availability information will be gathered from the process, as pricing is not allowed for such enquiries at Petrobras.

The National Oil and Gas Agency (ANP) disclosed its Monthly Bulleting with the national production consolidated data showing that Brazil broke the records, in July, in the total production (both oil and gas) as well as the pre-salt´s. The country produced an overall total 4,482 million boed. Interestingly, the previous record was from the previous month, June: 4.324 million. In addition, there was also a record in isolated production of oil and gas, with 3,513 million boed and 154,076 million cubic meters per day, respectively.

BW Energy completed the acquisition of the Golfinho and Camarupim clusters, both in Espirito Santo basin, from Petrobras and taking over ownership and operatorship of approximately 10.000 barrels
of daily oil production. The company owns 100% working interest (WI) in the Golfinho and Camarupim clusters and 65% WI in the BM-ES-23 block. The Company’s overall estimate is 38 million boe.
The transaction is financed through BW Energy’s existing liquidity and an oil pre-payment facility with USD 12.2 million paid at closing following an initial USD 3 million payment back in 2022. The agreement also includes up to USD 60 million in future contingent payments linked to oil price, well
operations and further successful development of the acquired assets.

Last week, Petrobras released the final and official results of its last AHTS TS tender from earlier this year. The opportunity which saw Posidonia Shipping’s candidate Atlantic Kingfisher as best qualified offer, had received an appeal from one of the other bidders claiming the vessel did not meet a few tender requirements. After an evaluation process by Petrobras, the Oil Major turned down the appeal and ruled in favour of Posidonia’s offer, issuing the definitive award to Atlantic Kingfisher. The vessel is currently located in Canada and has to be delivered to Petrobras until December 2023, under REB flag, as per tender conditions. To convert the vessel to Brazilian flag, Posidonia should most likely use tonnage from the two PSV hulls acquired earlier in 2023.

In the first half of 2023, the Brazilian government acquired an accumulated share of oil of 7.27 million barrels, coming from the production sharing regime. This volume is more than double of the same period last year, when it was 3.6 million barrels.

The result was improved by the production of the fields of Mero (5 million barrels), Búzios (1 million barrels) and Sapinhoá (490 thousand barrels), all in Santos Basin. Another highlight is that the FPSO Guanabara installed in Mero, achieved a record monthly production of a pre-salt platform: 179.000 boed, in February.

Shell has informed the National Petroleum Agency (ANP) of the detection of natural gas signals in well 1-SHEL-35A-RJS, in block C-M-659, Campos Basin. The well is in a water depth of 2.940 meters and was drilled by Maersk Developer.  

The block was acquired by Shell in October 2019, during the 16th Bidding Round, for R$714 million. The company is the main operator of the block with a 40% share in partnership with Chevron (35%) and QPI (25%).

The Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) authorized the drilling of the well for up to six wells in the block, one firm and five contingent. It can also perform as many as four training tests in that area.