Brazil’s Offshore Oil Reserves Larger Than Expected

Wednesday, November 14, 2007
Brazil's oil giant Petrobras announced that its recent offshore oil discovery in Brazil contains between 5-8 billion barrels of recoverable oil. Petrobras made the statement after attending the World Energy Congress. Last week, Petrobras said the Tupi Field, some 280 km off the coast of Rio de Janeiro, may hold the equivalent of billions of barrels of oil, which is trapped below a thick layer of salt. The Petrobras president reportedly said production on the Tupi Field could begin in 2010 or 2011 as the company aims to increase overall production to 4.5 million barrels a day of oil and gas equivalent by 2015. [Source: http://news.xinhuanet.com]
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Contracts

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Offshore

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

 
 
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