Brazil’s Libra Oilfield Auction Stirs Protest
Protestors are rallying against the Brazilian auction of the Libra oilfield site discovered in 2010 roughly 140 miles off the coast of Rio de Janeiro. Multiple Sources reported that some 1,100 troops have already been deployed by the Brazilian government as a preventative measure after protests grew violent last week in Rio. The auction, which is scheduled to take place this afternoon, dictates that state-run Petrobras would bring in more than 40% of recovered oil from Libra for the Brazilian state.
Chinese Firms in Winning Libra Field Bid, Offshore Brazil
The Chinese firms, China National Offshore Oil Corporation ( CNOOC) and China National Petroleum Corporation (CNPC), have a 10 percent stake each, with Shell and Total taking 20 percent each, and Petrobras the remaining 40 percent share. The Libra block is located in Santos Basin ultra deep waters in the pre-salt polygon and is considered a prospect of high potential. The total extension of the area is 1,547.76 km2 and was discovered by well 2-ANP-0002ARJS, drilled in 2010. Under the rules of the auction, Petrobras had to participate in any consortium with at least a 30-percent stake, and to operate the field. The rules also called for the Brazilian government to receive a minimum 41.65 percent of the field's output…
First Oil and Contract Start-up for Libra FPSO
Teekay Offshore Partners L.P. announced that its jointly owned floating production storage and offloading (FPSO) unit, the FPSO Pioneiro de Libra (Libra), has achieved first oil and commenced its 12-year charter contract with a group of international oil companies, including Petrobras, Total, Shell, CNPC and CNOOC Limited, on the Libra oil field where it will perform early well tests. The Libra FPSO unit is the first unit to produce oil on the giant Libra block, which covers more than 1,500 square kilometers in the Santos Basin.
Terex Port Solutions at Sugarloaf Mountain
Terex Port Solutions (TPS) will supply Libra Terminais Rio S/A (Libra) with 12 Terex® rubber-tyred gantry cranes. They are to be delivered in the fall of 2014 to the Libra terminal in the Bay of Rio de Janeiro. The company operates ports in Rio and Santos and ispart of the Libra Group, a leading Brazilian logistics corporation. The cranes will be shipped to Rio, already assembled, from the TPS plant in Xiamen, PR China. TPS’ Brazilian distributor, Terminal Full Dealer (TFD), who facilitated the order, will be responsible for unloading, commissioning and hand-over on site.
Brazil Delays Estimate for First Oil Cargo from Libra
Brazil on Wednesday pushed back its forecast for a first oil shipment from its promising offshore Libra prospect to the first quarter of next year, months after its previously projected October 2017 estimate made in May. Hercules Tadeu F. da Silva, contract management director at Brazil's state-run Pre-Sal Petroleo SA, a company created to help guide development of Libra, declined to explain the cause of the delay. (Reporting by Simon Webb)
SBM Offshore Invited to Participate in Petrobras Tenders
Netherlands-based floating production solutions provider SBM Offshore announced that its main Brazilian subsidiary has received written notification from Petrobras of its ability to participate in the recently issued Libra and Sépia FPSO tenders in Brazil. According to SBM Offshore, the invitation follows on a thorough review of the group's compliance standards by Petrobras, including its compliance department. A definitive invitation to bid on the Libra FPSO tender requires approval by the partners in the Libra field. SBM Offshore said it continues to be in active dialogue with the relevant Brazilian authorities.
Total Expects Decision on First Libra FPSO by Summer
A decision on the first floating, production, storage and offloading (FPSO) vessels on the giant Libra project in Brazil will be made by the summer, Total's head of exploration and production said on Thursday. "We are actively working actively on Libra to have the first FPSO decided before summer," Arnaud Breuillac told an oil summit in Paris. Total is one of the partners in Libra with Brazil's state-controlled oil company Petróleo Brasileiro SA. The project will see the installation of four FPSOs in the field with a capacity to produce 180,000 barrels of oil a day (bpd) in 2020. (Reporting by Bate Felix)
Deltamarin Designs the Libra FPSO
Deltamarin Ltd. has entered into a contract with Jurong Shipyard Pte Ltd for the basic engineering of the Libra FPSO (floating production, storage and offloading unit). Deltamarin’s scope of work covers the marine part of the Navion Norvegia shuttle tanker conversion into the Libra FPSO. The conversion shall be performed at the Singaporean Jurong Shipyard, whose customer is OOGTK Libra GmbH & Co KG, a 50/50 joint venture between Odebrecht Oil & Gas and Teekay Offshore. The joint venture company works as the lead commercial bidder for the Brazilian energy company Petrobras on the Libra project. The vessel is expected to be owned and operated…
Libra Ramps Up Container Ship Buying, Bets on Upturn
Global conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group's chief executive said. Libra has proved adept at buying and selling assets since 2008 -- making significant returns on investments. Shipping is battling overcapacity, linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009, forcing operators to look for ways to overcome one of the worst slumps on record. Leading container groups including Maersk are replacing older and smaller vessels with fewer but larger mega-ships to command better economies of scale.
Petrobras Signs LoI for Libra FPSO
Libra Consortium has signed a letter of intent with Odebrecht/Teekay (OOG-Teekay), winner of a tender process, for the charter of a FPSO-type platform (floating production, storage and offloading) designed for the extended well test campaign of Libra, in the Santos Basin pre-salt deposits. The delivery of the FPSO and the start-up of the first extended well test are scheduled for the fourth quarter of 2016. The plan is to conduct tests in several areas of the block, in order to evaluate the production performance and acquire information about the Libra area.
Höegh LNG - LNG Libra sold
Höegh LNG Holdings Ltd. has sold the LNG carrier LNG Libra (built 1979) to a Chinese energy company for around USD 20 million. The Company has received 15% of the purchase price and will receive the remaining 85% by the end of the first quarter 2016, after the vessel has completed her current charter with Gas Natural. Höegh LNG's President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: "LNG Libra was acquired to meet the bid conditions for a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead.
New Fresh Water Generators for Pionerio de Libra FPSO
Dutch water treatment specialist Hatenboer-Water has supplied three fresh water generators for the Pioneiro de Libra oil production vessel built by Jurong Shipyard Pte Ltd. The order consists of three reverse osmosis type fresh water generators. Two of the generators are topside installations in heavy duty box frames suitable for a hazardous Ex Zone 2 area. The Pioneiro de Libra is operated by OOGTK Libra GmbH & Co KG, a joint venture between Brazil’s Odebrecht Oil & Gas and Teekay Offshore. The reverse osmosis (RO) units desalinate seawater for different applications on board.
Ezra to Supply Turret Mooring System for Libra Field
Ezra Holdings Limited’s wholly owned subsidiary, London Marine Consultants (LMC), Ezra’s Floating Production, Storage and Offloading (FPSO) Turret Design outfit, has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel. The Libra oil field is a large, ultra-deepwater (up to 2,500 meters) oil prospect located in the Santos Basin, about 230 kilometers off the coast of Rio de Janeiro, Brazil, north of Tupi field. The oil field estimated to contain recoverable resources ranging between eight billion to 12 billion barrels of oil and is one of the largest deepwater oil accumulations globally.
First Libra Offshore Oil Well Confirms Discovery
Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality oil in the northwestern part of the structure . Well, informally known as NW1, is located in the pre-salt Santos Basin, approximately 170 km off the coast of Rio de Janeiro and about 4 km southeast of the discovery well, 2-ANP-2A RJS. The carrier oil interval was found through profiles and fluid samples, which will subsequently be characterized by laboratory analysis.
Gas Natural Extends Charter Period for LNG Libra
In the stock exchange notice dated 13 November 2013 Höegh LNG Holdings Ltd. informed that LNG Libra, a 126,000 cubic meter LNG carrier, was chartered to Gas Natural until year-end 2014. Gas Natural has today exercised its option to extend the charter period for further 12 months with redelivery at year end 2015. The EBITDA contribution to Höegh LNG for the extended period is about USD 6.9 million. President and CEO Sveinung J. S. Støhle says in a comment: "We are very pleased that Gas Natural has extended the charter for LNG Libra and we are looking forward to continuing our good relations with our client. The extension underlines our excellent operating performance and Höegh LNG's ability to secure employment for LNG carriers even at times of challenging market conditions."
Grupo Libra Gives Up Shipyard Plan
Grupo Libra will reportedly give up its lease on the Estaleiro Niteroi shipyard after failing to win any new orders.
Petrobras Offers to Sell up to 10% of Libra Field
Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion, according to analysts at Macquarie, and is likely to attract international oil companies keen to expand in one of the world's fastest-developing oil basins. Petroleo Brasileiro SA, as Petrobras is formally known, is targeting $15.1 billion in disposals by the end of next year but has struggled to sell assets in less attractive prospects off Brazil and in the Gulf of Mexico.
Petrobras Offers Stake in Coveted Offshore Block
Petrobras plans to reduce its 40 pct stake in Libra field. Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion, according to analysts at Macquarie, and is likely to attract international oil companies keen to expand in one of the world's fastest-developing oil basins. Petroleo Brasileiro SA, as Petrobras is formally known, is targeting $15.1 billion in disposals by the end of next year but has struggled to sell assets in less attractive prospects off Brazil and in the Gulf of Mexico.
FPSO to Achieve First Oil from Libra Field in July
Teekay informs that the FPSO Pioneiro de Libra arrived May 17 in Brazilian territorial waters. The FPSO unit, owned through a 50/50 joint venture between Odebrecht Oil & Gas and Teekay Offshore, will be the first to produce oil in the Libra Block which covers more than 1,500 square kilometers in the Santos Basin and has estimated reserves of 8-12 billion barrels of recoverable oil. The first oil is scheduled for July. The unit can operate at water depths of up to 2,400 meters…
Offshore Brazil: The Libra Field & Brazil’s Pre-Salt Policy
Brazil’s Libra pre-salt field, in Block SS-AUP1 in the Santos Basin, with estimated recoverable oil volumes of 8-12 billion barrels of oil equivalent (BOE) and in place volumes of between 25-40 billion BOE, was the country’s first pre-salt field to be auctioned. The rules governing this historical auction have been shunned by important super-majors such as Exxon Mobil, Chevron and BP and also by major players such as the BG Group and Statoil. Many industry analysts were surprised that state-owned players from China…
TEN Announces New Time Charters
Tsakos Energy Navigation Limited (TEN) announced new time-charter contracts for two of its product carriers, the Libra and the Crux. The Libra has a two-year contract, with a further one-year option, starting immediately at a rate of $13,450 with a major North American oil concern. The Crux has a sixteen-month time charter starting in April 2003 at $13,000 with another major international charterer. "With these contracts, TEN is continuing its established practice of maintaining a balanced fleet employment profile with spot voyages and medium to long-term accretive charters," said Nikolas P. Tsakos, President and CEO. He added, "The attractive rates that we have secured for these vessels are indicative of the continued strong market that we have been observing over the last several months.
Brazil's Petrobras Finds Oil in Libra Prospect
Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it found "good quality" oil in an exploration well in the giant Libra prospect, off the coast of Rio de Janeiro state. The well is the first drilled by the Petrobras-led consortium which won the right to explore and develop the area which contains an estimated 8-12 billion recoverable barrels of petroleum. Petrobras has a 40 percent stake in the group with Royal Dutch Shell Plc and Total SA each owning 20 percent and China's CNPC and CNOOC Ltd each with 10 percent. Reporting by Stephen Eisenhammer and Jeb Blount
MOL Installs Ballast Water Treatment System on VLCC
Mitsui O.S.K. Lines, Ltd. announced completion of work to install a ballast water treatment system on the very large crude oil carrier (VLCC) Libra Trader at Keppel Shipyard in Singapore. On January 10, the company announced plans to install the system on a VLCC ahead of IMO installation compulsion. MOL is the first Japanese shipping company to install such a system for existing VLCC. Keppel Shipyard has timely delivered the vessel as committed and Libra Trader has already returned to service, and the ballast water treatment system will be tested and adjusted during operation.