Brazilian state-run oil firm Petrobras has begun a long-term test in the Forno area in the Albacora Field in the presalt region of the Campos Basin, the company said in a securities filing May 17.
The testing, started May 16 and being carried out in the well about 120 kilometers off the coast of Rio de Janeiro, aims to assess the “reservoir’s production and characteristics of its oil,” Petrobras said in a statement.
The revisions allow contractors to choose between different sharing contracts including the cost recovery and gross split systems in an effort to boost investment.
Odfjell Drilling said on Jan. 29 that BP (NYSE: BP) will continue to use the company’s platform drilling services on the U.K. continental shelf.
ADES International Holding Plc has entered, through its subsidiary ADES SAE, into a short-term exploration contract with Dana Gas for deepwater drilling services in the Egyptian Mediterranean basin, the company said on March 8.