Petrobras, the Brazilian state-controlled oil and gas multinational, should commission from Brazilian shipyards 28 new drilling rigs that may be also used in subsalt layer exploration. The strategy for purchasing the equipment was passed by the Board of Executives of the company, according to information disclosed by the company.
The enterprise should generate more than 40,000 direct and indirect jobs. The 4 billion reais (US$ 2.1 billion) in funding should come from the Guarantee Fund for Naval Construction. The beginning of the units' commissioning process is scheduled to take place before the end of the month, with delivery due from 2013 to 2018.
Petrobras is looking into modalities of financing to make access to credit easier for the Brazilian suppliers that are going to manufacture the rigs.
Just last week Petrobras announced one more oil and natural gas discovery in the pre-salt layer in Santos Basin. According to the company press statement, the discovery was made at reservoir BM-S-9, after the drilling of a well informally named Abaré Oeste.
The area is explored by Petrobras, which operates the block with 45% participation in a consortium with BG Group (30%) and Repsol (25%).
According to the state-owned oil company, activities should proceed and necessary investment should be made in accordance with the Assessment Plan approved by the National Petroleum, Natural Gas and Biofuel Agency (ANP).
According to Petrobras, the reservoir is located in the evaluation area of Well 1-SPS-50 (Carioca), some 290 kilometers off the coast of the State of São Paulo at a depth of 2,163 meters from the water line. This is the fourth well drilled in block BM-S-9. All of them proved the existence of hydrocarbons.
The company added that Bloco BM-S-9 includes two areas for evaluation: the well denominated Guará and the one named Carioca.
"The discovery was proved by means of a sampling made from reservoirs located at a depth of approximately 5,150 meters. Further analyses are being made with the samples for a better characterization of the oil that was found," according to the company.
This is an extract from http://www.brazzilmag.com/content/view/11214/1/
Monday, September 21, 2009
Sunday, September 20, 2009
WOGO 2010 - World Oil, Gas and Offshore Conference, Mumbai, India
Energy is the backbone of the world economy. Worldoils is delighted to announce the ‘World Oil, Gas & Offshore conference 2010 (WOGO 2010)', in Mumbai, the first practical conference to highlight the latest exploration and technical developments in the Oil & Gas industry & in response to the needs of the national and international markets & regulations. As the Oil, Gas and Offshore industries are going through an unprecedented growth, this conference is timed to address the exploration and development activities of the region.
This seminar will provide an opportunity to listen to the new technologies & regulations. The speakers will highlight the challenges facing the oil & gas industry today and in the future & will share their valuable insights and provide innovative solutions to both commercial and operational issues faced by the industry today. The conference also intends to bring together equipment specialists and contractors, who need to work much more closely to create new innovative techniques and to find solutions for efficient working. Come and be ready to debate one of the most challenging sectors & discover some of the practical ways to meet new standards - listen to the industry specialists and take away concise examples of how the oil & gas industry needs to make a difference. The conference shall offer an excellent opportunity to Oil, Gas and Offshore industry, their associates and academia to share their valuable experiences and knowledge.
Additionally, this is a great opportunity to meet the leaders in the fast growing Oil, Gas and Offshore industry in the Asian and Middleast region and explore new markets and opportunities.
WOGO 2010 will deliver insights on:
- Innovation and the latest technology; via case studies and in-depth presentations that reveal the true commercial potential of these innovations
- Policy and regulations that will shape commercial operations and investments
- Solutions: Bottom line focused solutions on both commercial and operational levels
- Peer Networking: Equipment suppliers, Services, Contractor and Commercial heads will be able to take content and realize efficiencies, and better bottom line performances.
This seminar will provide an opportunity to listen to the new technologies & regulations. The speakers will highlight the challenges facing the oil & gas industry today and in the future & will share their valuable insights and provide innovative solutions to both commercial and operational issues faced by the industry today. The conference also intends to bring together equipment specialists and contractors, who need to work much more closely to create new innovative techniques and to find solutions for efficient working. Come and be ready to debate one of the most challenging sectors & discover some of the practical ways to meet new standards - listen to the industry specialists and take away concise examples of how the oil & gas industry needs to make a difference. The conference shall offer an excellent opportunity to Oil, Gas and Offshore industry, their associates and academia to share their valuable experiences and knowledge.
Additionally, this is a great opportunity to meet the leaders in the fast growing Oil, Gas and Offshore industry in the Asian and Middleast region and explore new markets and opportunities.
WOGO 2010 will deliver insights on:
- Innovation and the latest technology; via case studies and in-depth presentations that reveal the true commercial potential of these innovations
- Policy and regulations that will shape commercial operations and investments
- Solutions: Bottom line focused solutions on both commercial and operational levels
- Peer Networking: Equipment suppliers, Services, Contractor and Commercial heads will be able to take content and realize efficiencies, and better bottom line performances.
Oil Price History and Analysis tools
At Worldoils, a page is being built for Oil Price History and Oil Price Analysis tools.
Please visit and give your feedack.
Please visit and give your feedack.
Not much has changed in oil prices last week?
Oil prices fell modestly on Thursday as the market consolidated hefty gains fuelled by a weak dollar, strong equity markets, global recovery hopes and falling US crude inventories.
New York's main contract, light sweet crude for October delivery, dipped just four cents to 72.47 dollars a barrel.
London's Brent North Sea crude for November delivery dropped 12 cents to 71.55 dollars.
Oil prices held above 71 dollars, with any profit-taking pressure limited by the low level of the dollar, languishing near one-year lows against the euro on Thursday.
The dollar has been weakening in recent weeks as investors moved away from the safe-haven greenback to more risky investments, such as equities which have been enjoying a good run recently.
Oil Price History
New York's main contract, light sweet crude for October delivery, dipped just four cents to 72.47 dollars a barrel.
London's Brent North Sea crude for November delivery dropped 12 cents to 71.55 dollars.
Oil prices held above 71 dollars, with any profit-taking pressure limited by the low level of the dollar, languishing near one-year lows against the euro on Thursday.
The dollar has been weakening in recent weeks as investors moved away from the safe-haven greenback to more risky investments, such as equities which have been enjoying a good run recently.
Oil Price History
Florida Energy Associates pushing for offshore drilling
An energy group is mounting a renewed push to overturn Florida's ban on offshore drilling during the next legislative session, after an effort earlier this year failed.
They appeared in the spring, a secretive group trying to upend Florida's longtime ban on offshore drilling by promising millions of dollars and hundreds of jobs.
The effort to allow drilling within three to 10 miles of beaches failed to pass the Legislature, but only just. Now emissaries from Florida Energy Associates are touring the state to campaign for overturning the ban at the next legislative session, either this fall or next spring. Incoming House Speaker Dean Cannon, R-Orlando, says he'll sponsor a bill to allow drilling as close as five miles offshore.
They appeared in the spring, a secretive group trying to upend Florida's longtime ban on offshore drilling by promising millions of dollars and hundreds of jobs.
The effort to allow drilling within three to 10 miles of beaches failed to pass the Legislature, but only just. Now emissaries from Florida Energy Associates are touring the state to campaign for overturning the ban at the next legislative session, either this fall or next spring. Incoming House Speaker Dean Cannon, R-Orlando, says he'll sponsor a bill to allow drilling as close as five miles offshore.
Essar Oilfields raises $240 million for rig
Essar Oilfields Services Ltd has raised at least $240 million (Rs1,157 crore) from a group of overseas and domestic banks to achieve financial closure for its semi- submersible rig Essar Wildcat.
Essar Oilfields is a subsidiary of Essar Shipping Ports and Logistics Ltd which, in turn, is part of the Essar Group that has interests ranging from steel and shipping to refining. The Essar Group also plans to invest at least $1 billion in the oil drilling business.
Timed well: Essar Oilfields rig Essar Wildcat. Drilling has been completed in a KG basin ahead of schedule.
V. Ashok, director of Essar Shipping confirmed the development, saying his company has been given “a four-year repayment profile at competitive terms”. He did not divulge details of fund-raising or the banks involved in the deal.
Read more at http://www.livemint.com/2009/09/18223012/Essar-Oilfields-raises-240-mi.html
Essar Oilfields is a subsidiary of Essar Shipping Ports and Logistics Ltd which, in turn, is part of the Essar Group that has interests ranging from steel and shipping to refining. The Essar Group also plans to invest at least $1 billion in the oil drilling business.
Timed well: Essar Oilfields rig Essar Wildcat. Drilling has been completed in a KG basin ahead of schedule.
V. Ashok, director of Essar Shipping confirmed the development, saying his company has been given “a four-year repayment profile at competitive terms”. He did not divulge details of fund-raising or the banks involved in the deal.
Read more at http://www.livemint.com/2009/09/18223012/Essar-Oilfields-raises-240-mi.html
US rig count climbs above 1,000 again
US rig count climbs above 1,000 again
Sep 18, 2009
By OGJ editors
HOUSTON, Aug. 18 -- For the second time in 23 weeks, US drilling activity increased to more than 1,000 rotary rigs working, Baker Hughes Inc. reported.
The US rig count increased 2 weeks ago by 10 to 1,009 units, dropped by the same amount last week, and has 1,010 rigs working this week, down sharply from the 2,018 that were drilling a year ago. The latest gain was primarily in land operations, up 11 rigs to 971 working. Inland water activity was up by 2 rigs to 7, but that gain was offset by the loss of 2 rigs in offshore drilling, down to 30 rigs still working in the Gulf of Mexico and a total of 32 in US coastal waters.
The number of rigs drilling for natural gas increased by 6 to 705 this week, while those drilling for oil were up 5 to 293. There were 12 rigs unclassified. Directional drilling increased by 11 rigs to 195. Horizontal drilling gained 2 to 432.
Texas netted the largest gain among major producing states, up by 9 to 382 rigs drilling. Louisiana’s rig count increased by 3 to 147. Colorado and Wyoming gained 2 rigs each for respective counts of 45 and 37. Alaska added 1 rig for a total of 8, and California was unchanged with 20 rigs working. Oklahoma dropped 5 rigs to 69 active. New Mexico had 46 rotary rigs working, 3 fewer than last week. North Dakota and Arkansas were down 1 rig each to 46 and 42, respectively.
In other states of interest, Pennsylvania and Utah gained 1 rig each to 55 and 16, respectively. West Virginia was unchanged at 20.
Canada’s rig count increased by 8 to 214 this week, compared with 425 rigs working in the same period last year.
This is an extract from the Oil & Gas Journal
Sep 18, 2009
By OGJ editors
HOUSTON, Aug. 18 -- For the second time in 23 weeks, US drilling activity increased to more than 1,000 rotary rigs working, Baker Hughes Inc. reported.
The US rig count increased 2 weeks ago by 10 to 1,009 units, dropped by the same amount last week, and has 1,010 rigs working this week, down sharply from the 2,018 that were drilling a year ago. The latest gain was primarily in land operations, up 11 rigs to 971 working. Inland water activity was up by 2 rigs to 7, but that gain was offset by the loss of 2 rigs in offshore drilling, down to 30 rigs still working in the Gulf of Mexico and a total of 32 in US coastal waters.
The number of rigs drilling for natural gas increased by 6 to 705 this week, while those drilling for oil were up 5 to 293. There were 12 rigs unclassified. Directional drilling increased by 11 rigs to 195. Horizontal drilling gained 2 to 432.
Texas netted the largest gain among major producing states, up by 9 to 382 rigs drilling. Louisiana’s rig count increased by 3 to 147. Colorado and Wyoming gained 2 rigs each for respective counts of 45 and 37. Alaska added 1 rig for a total of 8, and California was unchanged with 20 rigs working. Oklahoma dropped 5 rigs to 69 active. New Mexico had 46 rotary rigs working, 3 fewer than last week. North Dakota and Arkansas were down 1 rig each to 46 and 42, respectively.
In other states of interest, Pennsylvania and Utah gained 1 rig each to 55 and 16, respectively. West Virginia was unchanged at 20.
Canada’s rig count increased by 8 to 214 this week, compared with 425 rigs working in the same period last year.
This is an extract from the Oil & Gas Journal
Wednesday, September 2, 2009
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