Petrobras & PPSA Sign PIA for Campos Basin
Last Friday (10/31) Petrobras and PPSA (Pré-Sal Petróleo S.A.) signed a Production Individualization Agreement (PIA) for the Tartaruga Mestiça field, in the southern part of the Campos Basin. This Agreement sets out the rules for joint production of oil and natural gas and the development of operations in the area, as well as the interest of each party. PPSA is representing the Brazilian Federal Government in the Agreement, in accordance with Law no. 12.351 /10, since the non-contracted shared area is inside the Pre-Salt Polygon. Part of the shared Tartaruga Mestiça is located in the BM-C-36 concession area (operated by Petrobras, with a 100% interest) and part in the non-contracted area of the Pre-Salt Polygon.
FPSO Contract Suspension Could Cost Petrobas US$15-bln
Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction in profit is based on an estimate of the amount of lost oil and natural gas output and additional spending needed if Petrobras had to stop using the floating oil production platforms leased from SBM, it said in the Saturday filing. The estimate was made in response to a request by Brazil's Office of the Comptroller General (CGU), Petrobras said in the filing. The CGU is the Brazilian federal-government agency responsible for the protection of public property.
National Stevedores Strike in Brazil
ISS Brazil advised of a potential national stevedores strike planned to commence on the June 10, 2014. The indefinite strike, organized by the Union of Stevedores, is expected to affect stevedore operations in all ports across Brazil and is predicted to cause considerable delays with cargo operations from June 10 unless an early resolution can be reached with the Brazilian Federal Government. iss-shipping.com
Platform P-55 Operational in Roncador Field
The Petrobras’ P-55 platform, one of the strategic projects in the 2013-2017 Business and Management Plan, started-up the last Tuesday (12/31/13) in Campos Basin’s Roncador field. P-55 is part of Roncador´s field Module 3 project and will be connected to 17 wells, 11 of which are oil and gas production and 6 water injection. Oil and natural gas will be transported from the platform via submarine pipelines connected to the unit till the oil and gas offloading system of the Campos Basin.
