The sale process, which had been in binding phase since late 2018, has been called off “considering the alignment of the concessions to the company’s strategy,” Petrobras said.
During a March meeting, U.S. officials asked Petrobras if the company had the capacity to increase short-term production, according to U.S. government and Petrobras sources, who requested anonymity to discuss private talks.
“The production start-up of the first permanent FPSO in Libra block is a new milestone for TotalEnergies in Brazil,” CEO Patrick Pouyanné says.
The three new discoveries offshore Guyana increases Exxon Mobil’s estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.
In an effort to restart unfinished oil drilling projects in Venezuela, U.S. firms such as Baker Hughes, Schlumberger, Halliburton and Weatherford have joined the appeal in Washington to authorize drilling projects in the country.
Asked if the U.S. had reached out to talk about potential oil production increases, Brazilian Energy Minister Bento said the two countries were cooperating.
Shell, TotalEnergies and 3R Petroleum were three of 13 companies that won contracts in an April 13 auction for 59 exploratory blocks of oil and natural gas in Brazil.
Hunting’s Direct Pull-Through installation methodology is intended to simplify installation and enhance safety during project execution for the Yellowtail development—Exxon Mobil’s fourth, and largest, project within the Stabroek Block offshore Guyana.
In the three-year pilot stage, Chevron plans to invest $65.7 million to drill, complete and commission five horizontal wells in the Vaca Muerta Shale formation. In addition, the oil major will invest $13 million in infrastructure.
SBM Offshore will develop, lease and operate Exxon Mobil’s ONE GUYANA FPSO for the $10 billion Yellowtail project offshore Guyana.