Brazil’s state-run oil company Petrobras SA has decided to delay its oil producing zone known as the Parque das Baleias project.
The project was delayed by one year to 2024 because of the coronavirus pandemic, according to a securities’ filing Oct. 16.
“With the postponement, Petrobras canceled the bidding for the chartering of a platform to serve the project and authorized the start of a new bidding process,” the company said in a news release.
The deepwater field is in Campos Basin offshore Brazil.
U.S. oil output reached around 13 million barrels per day (MMbbl/d) in February before the coronavirus pandemic hit fuel demand.
Commercial production from non-conventional energy sources—including fracking for shale gas—is currently not permitted in Colombia.
Up to 10 FPSOs could be needed to develop the prolific oil and gas resource base on the Stabroek Block, according to partner Hess Corp.