DIT News of the Brazilian market
Market news and Intelligence.
• Petrobras has announced in a press release a list of mature assets in the Campos and Santos basin for sale of its exploration, development and production rights in seven sets of shallow-water fields (total of 30 concessions). Petrobras’ stake in the average production of oil and natural gas from these fields, was 73 thousand barrels of oil equivalent per day.
• The Brazilian ship owner Wilson Sons and the Brazilian Development Brank – BNDES signed a contract of £41 million in financing to the construction of six barges by the Wilson Sons shipyard in Sao Paulo, Brazil. The project was granted by Brazilian Marchant Fund in the bid round which took place earlier this year. The new barges’ project contemplates azimuth propulsion. [
• Petrobras reported a profit of R$ 316 million (US$ 99.5 million) in the second quarter of this year, down 14.6% compared to the same period last year, the company said in an earnings report released on Thursday after the market closed. The result reflects a worse net financial income, which partially offset the increase in operating income and reduction of losses compared to 2016. But importantly, it was the third consecutive quarter in which the company has been able to deliver profits.
• Great Oil recorded traces of oil in the 1-GOP-1A-BA well in the REC-T-107 block of the Recôncavo Basin. This was the third find for this well. The others occurred in May (gas) and June (oil). The well is a repetition of the first drilling of the block, which began in April. The campaign is being conducted by the BCH Energy 5 drill ship owned by Great Holdings itself. The initial expectation was to drill down to 3,400 m, but data for the completion of the well has not been released. The drilling is the first in REC-T-107, where Great Oil took over the operation last year. The company bought 95% of Alvopetro's stake in the area, because of the possibility of extending the reserves to the neighboring REC-T-108 block.
• The National Petroleum Agency (ANP) will intensify its efforts in the next few weeks in analyzing the 413 suggestions submitted by industry for the 14th Bid Round, 293 of which refer to the drafting of the concession agreement and 120 for the pre-public tender. The goal of the Agency's Bid Promotion and Monitoring Superintendency is to complete the entire evaluation by the end of the first week of July.
Suggestions for improvement presented by the industry began to be studied in May and are being reviewed by the technical areas of the agency and a standing committee specifically created for the round. Most of the suggestions made regarding the draft of the concession contract were directed to issues related to local content, while in the case of the pre-public tender, the proposals concentrated on the qualification of bidders.
• ANP – the National Petroleum Agency, plans to begin drafting the resolution in September that will discipline the decommissioning of oil and gas production systems. The new regulation, which in practice will be the a revision of existing rules, aims to establish the deadlines and obligations to be assumed by the concessionaires in the process of decommissioning the premises, return of areas, disposal and reversal of assets, as well as the content of the program and the final decommissioning report.
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