Writ Issued Protesting Transocean Shutdown Order
Petrobras files writ of mandamus against an injunction suspending Transocean's activities in waters offshore Brazil. (Mandamus is an extraordinary writ commanding an official to perform a ministerial act that the law recognizes as an absolute duty and not a matter for the official's discretion. (Source: Advanced English Dictionary). Petrobras filed a writ of mandamus, in the capacity of injured third party, to suspend the injunction granted on July 31, 2012 that ordered the shutdown of the activities of Transocean Brasil Ltda (Transocean). The injunction stems from the Public-Interest Civil Action filed by the Federal Prosecution Office in the Federal Courts of the state of Rio de Janeiro against Chevron Brasil Upstream Frade Ltda (Chevron)…
Petrobras Probe Points to Pension Fund
Clarification: This story has been updated to include the full name a company which is under investigation for involvement in a corruption scandal with Petrobras. The name of the Brazilian company is UTC Engenharia, not UTC as initially reported. There are several global companies known as UTC, and only the Brazilian firm UTC Engenharia is implicated. Brazil's state-run oil company Petrobras on Monday said a growing corruption scandal may implicate its employee pension fund and has led to a freeze on payments to 23 contractors allegedly involved in the scheme. Petros, the 66 billion real ($24 billion) employee-pension fund of Petroleo Brasileiro SA, as Petrobras is formally known, was singled out by an internal investigation, Petrobras said in a statement.
Petrobras Standardizes on Intergraph 3D Technology
The world’s eighth largest oil company and a longtime Intergraph customer, Petrobras will completely adopt SmartPlant® 3D modeling and visualization, engineering and schematics, information and materials management, and project controls solutions to enable Petrobras to develop, operate and maintain its fixed offshore drilling platforms, semi-submersibles and FPSOs. Petrobras has already used Intergraph solutions for 10 FPSOs, four semisubmersible floating production platforms, one gas platform and one re-pumping platform. Sisgraph, Intergraph’s Brazil-based distribution partner, will continue to support Intergraph offshore engineering solutions for Petrobras.
Petrobras CEO Defends Company's Honor
The top executive of Brazilian state oil giant Petrobras on Tuesday defended his company's acceptance of an industry achievement award despite suffering the loss of the world's largest deepwater oil rig in March. Petrobras president and CEO Philippe Reichstul dedicated the 2001 Offshore Technology Conference Distinguished Award for Companies and Organizations to the 11 workers who died when two explosions rocked the P-36 rig on March 15. Reichstul said Petrobras accepted the award because it recognizes the company's advances in subsea production systems, not the drilling platform proper. The subsea systems were not damaged in the sinking, he said. "We've been amazed by the way everything is impeccable subsea," Reichstul said at the 2001 Offshore Technology Conference (OTC) yesterday.
Petrobras Expected to Award Contracts
According to Reuters, STX expects top South Korean shipyards to jointly win offshore project orders from Brazil's Petrobras. Petrobras is expected to issue large tenders for offshore oil development vessels, including drillships and floating product storage and offloading units. In April, Petrobras executives visited South Korea and held individual meetings with shipbuilders on vessel orders worth a total $25 billion-$30 billion.
Petrobras Won't Seek SBM Offshore Bids During Probe
Brazil's state-run oil company Petroleo Brasileiro SA , or Petrobras, will not seek bids from SBM Offshore NV while the Netherlands-based oil production ship leaser is under investigation for alleged bribery in Brazil, said Maria das Graças Foster, Petrobras' chief executive, during hearings before a Brazilian congressional committee on Tuesday. SBM is the largest leaser of oil production ships known as FPSOs. Petrobras owns or leases the world's largest fleet of oil-production ships.
ONGC-Petrobras Make a Deal
According to www.business-standard.com, Oil and Natural Gas Corporation (ONGC) has signed a deal with Brazil’s Petrobras for exchange of stakes in oil blocks in each other’s countries. ONGC will reportedly offer Petroleo Brasileiro SA (Petrobras) stake in its deepwater oil and gas block in the Krishna-Godavari basin, in which it discovered gas reserves estimated at 5-15 trillion cubic feet. In return, Petrobras – according to the report – will offer ONGC Videsh Ltd (OVL) stake in oil blocks in Brazil.
Petrobras Selects Platform Design
Petrobras have selected an Aker Kvaerner design for the hull of its new semisubmersible production platform to be located offshore Brazil, at the Marlim Sul deep water field development. The design is a copy of the P-51 semisubmersible platform, developed by Aker Kvaerner for Petrobras in 2002. P-56 will be the third semisubmersible platform for Petrobras of this design. The new contract covers the additional licence as well as an option for utilizing technical assistance from Aker Kvaerner during the project.
Petrobras Finds Oil, Gas in Espirito Santo Basin
Petroleo Brasileiro SA, found traces of oil and gas in an offshore well in the . Petrobras, as the Rio de Janeiro-based company is known, registered signs of oil and gas in the offshore PER block, according to 's National Petroleum Agency. Petrobras also found more oil in a second onshore well in the ES- T-364 block in Espirito Santo state. Petrobras has not determined if the wells can be developed economically. Source: Bloomberg
Rigs Back on After New Unexplained Brazil Oil Spill
Petrobras put 12 offshore oil rigs back into operation on May 26 following a stoppage on two days earlier that was due to a second unexplained oil spill in a week, officials said. Petrobras resumed operations after concluding the oil in the slick was different to that produced at the rigs, a Petrobras spokesman said. "All rigs, underwater pipelines and systems are in perfect order," the spokesman said. Petrobras, which has experienced a series of oil spills in the past two years, has said production losses from the stoppage, which occurred in the northern zone of the Campos oil field, were 120,000 bpd - nearly nine percent of Brazil's overall daily output. Natural gas output losses were 830,000 cubic meters a day. A week earlier, a similar stoppage occurred in the same area.
Petrobras Clarification on Bribe Payment Allegation
The company established an Internal Investigation Commission on February 13, 2014, the same day it became aware of the news about the alleged payment of bribes by SBM to Petrobras employees. The Commission’s findings, disclosed on March 31, 2014, based on work done within its regulatory scope, were that it did not find any facts or documents proving any improper payments made to Petrobras employees. On April 2, 2014, SBM informed the markets that it had also not found any evidence of improper payments.
First Jones-Act Purpose-Built Shuttle-Tanker
The next MTS Houston Section luncheon will be held on April 28, 2011 and will feature a presentation by Carlos Ferraz Mastrangelo with Petrobras America. Mr. Mastrangelo will be discussing Petrobras’s decision to use a shuttle-tanker for its oil export system at the Cascade and Chinook developments. While the combination of shuttle-tanker and FPSO is common in the North Sea, Brazil and other parts of the world, it is a first in the U.S. Gulf of Mexico. Despite the impressive pipeline infrastructure currently available in the U.S. Gulf, none of it reaches as far as the location of the Cascade and Chinook fields, at 160 miles south of the Louisiana coast, in the deep waters of the Walker Ridge quadrant.
Dyneema for Modu Mooring Lines In Brazil
Brazilian oil giant Petrobras has specified ultra strong, lightweight Dyneema fibers for a complete set of mooring ropes for a semi-submersible mobile offshore drilling unit (MODU). Headquartered in Rio de Janeiro, Petrobras has substantial interests in deepwater exploration. Petrobras specifically asked for the ropes to be made with SK78 grade of UHMWPE (ultra high molecular weight polyethylene) fibers from DSM Dyneema for its high strength at low weight properties. SK78 grade…
Brazil Senate Examining Petrobras Scandal
Brazil's Senate opened an inquiry on Wednesday into alleged corruption and mismanagement at state-run oil company Petroleo Brasileiro SA, a probe that could complicate President Dilma Rousseff's bid for reelection in October. A panel of senators will look into the costly purchase of a refinery in Pasadena, Texas, for which critics say Petrobras paid 20 times the market value. The senators will also probe allegations that Petrobras officials took bribes in exchange for steering contracts to SBM Offshore NV…
Petrobras, SBM Offshore, Brazilian Authorities Reach Settlement
The Ministry of Transparency, Oversight and Control (Ministério da Transparência, Fiscalização e Controle - "MTFC"), the Public Prosecutor's Office (Ministério Público Federal - "MPF"), the General Counsel for the Republic (Advocacia Geral da União - "AGU"), Petróleo Brasileiro S.A. - Petrobras ("Petrobras") and SBM Offshore signed a settlement agreement ("Settlement Agreement") today that closes out the inquiries of the MPF, the MTFC and Petrobras into the payment of undue advantages to employees of Petrobras.
Petrobras Cuts Spending, Quarter Profits Fall 19%
Brazil's state-run oil company Petrobras moved to check years of missed targets, soaring costs and rising debt by scaling back near-term investments and setting a limit on long-term growth. Petroleo Brasileiro SA, as Petrobras is formally known, cut its five-year investment outlook for the 2014-2018 period to $221 billion, 6.8 percent less than its previous 2013-2017 plan, after reporting a 19 percent drop in fourth-quarter profit late on Tuesday. The company said production would still more than double to 5.2 million barrels of oil and natural gas a day (bpd) in 2020…
Petrobras Shuts Down 13 Rigs For Leak Check
Brazil's state oil giant Petrobras halted output at 13 offshore rigs on Thursday in the Campos basin to check for leaks after an oil slick appeared on the ocean surface in the area. The stoppage results in output losses of 135,000 barrels of oil and 830,000 cubic meters of natural gas per day, or nearly 10 percent of Petrobras' daily output. "There is no production there now. When it will be resumed depends on when we find the leak," said a Petrobras spokesman. Petrobras said the leak off the Rio de Janeiro state coast was relatively small -- of around 98,000 liters (26,000 gallons) of crude. The company said in a statement it was yet unclear where the oil…
Petrobras 10000 Begins 10-Year Contract
Transocean Ltd. (NYSE:RIG) announced that the newbuild ultra-deepwater drillship Petrobras 10000 has commenced operations in Angola for a subsidiary of Petrobras under a 10-year drilling contract. Transocean has an agreement with the P&M Drilling International B.V. joint venture of Petrobras and Mitsui to acquire the rig under a 20-year capital lease contract. The Petrobras 10000 is one of 21 Ultra-Deepwater Floaters in the Transocean fleet. The rig features Transocean's patented dual-activity drilling technology, allowing for parallel drilling operations designed to save time and money in deepwater well construction, compared with conventional rigs.
Petrobras Sends 20 Ships To Monitor Oil Spill
Petrobras moved about 200 men and 20 ships to monitor oil spilled offshore after the world's biggest rig was rocked by blasts and sank earlier this month. On March 15, three blasts ripped through Petrobras' 40-storey platform, the world's biggest oil rig, killing 11 and spilling about 11,000 gallons of diesel oil. Petrobras has mobilized 11,000 m of retaining barriers, 21 oil collecting units, 18 suction pumps and 40,000 liters of dispersing chemical agent to the platform off the coast of Rio state, the firm said in a statement. "Luckily for everybody it was not an environmental disaster," said Carlos Henrique Mendes, regional director for Brazil's state environmental institute, Ibama.
Offshore Rig Gas Leak Kills Two
Two Brazilian maintenance workers died as a result of a toxic gas leak at an offshore oil rig operated by the state oil firm Petrobras. "The workers died when doing maintenance work on a drainage tank at the B-37 platform on the Marlim block in the Campos basin on Wednesday evening," said a Petrobras spokesman, adding that the workers were employees of Ultratec engineering firm. He said it was yet unclear how the leak had occurred and what gas caused the deaths. There were no other casualties and there was no damage to the platform. "The leak was stopped at the same moment on Wednesday. A Petrobras commission is investigating the case." Campos Basin accounts for nearly 80 percent of Brazil's overall crude oil output.
Petrobras Makes Discovery in Colombian Caribbean Waters
The Petrobras Orca–1 exploratory well (Tayrona Block) has revealed a natural gas accumulation in Colombian Caribbean deep waters, 40 km off the coast of La Guajira. This is the first discovery in the history of the deep water exploration of this region of the Caribbean. Petrobras is the operator (40%), in partnership with Ecopetrol (30%), and Repsol (30%). Well drilling ended in September, reaching 4,240 meters. The water depth is 674 meters. The natural gas accumulation was confirmed at 3,600 meters. Petrobras will continue operations as planned in order to assess the discovery.
Ferreira Quits Petrobras
Murilo Ferreira quit as chairman of Brazil's Petroleo Brasileiro SA, the state-controlled oil company said on Monday, without disclosing the reason for his decision. Ferreira had been on a leave of absence since Sept. 14, and Nelson Carvalho replaced him on an interim basis. In a securities filing, the company known as Petrobras said Carvalho would stay in that position until the board convened to elect a new chairman. Ferreira, who has been chief executive officer of Brazilian iron ore miner Vale SA since 2011…
Ensco Lost 2 Petrobras Contracts
Ensco Plc has concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts. Ensco 6003 and Ensco 6004 had their contracts terminated effective May 1, 2016 by mutual agreement. Ensco said the two rigs covered by the discontinued contracts will be removed from Brazilian waters and permanently retired, a sign of the weak state of the oil market. Previously, Ensco stated that one or two rigs might lose jobs. It's not a big surprise that 2 rigs lost their jobs given the current state of the offshore drilling market and problems at Petrobras.