Brazil

The Japanese contractor received word in early April it would be temporarily banned from new competitive bidding.

The find kicks off Petrobras’ latest drilling campaign, which is focused primarily on offshore blocks holding subsalt potential that the company acquired at a series of bid rounds that started in 2017.

Since 2000, Brazilian Petrorecôncavo, which specializes in revitalizing mature onshore fields, has performed operations and project implementation services in most fields of the Remanso Cluster.

The cluster is the third largest in Brazil and the fourth largest in the Americas, with potential for further development. It is the third offer the company has made over the past five weeks.

The 3-year contracts were awarded to Solstad, OceanPact, and Fugro.

Operators celebrate first major deepwater project sanctioned since the early-2020 oil crash.

The announcements are part of the company’s divestment strategy to reduce debt and improve capital.

In its push to boost deepwater production, Petrobras is aiming to launch a leasing tender to build an FPSO described as Brazil’s largest-ever oil platform. Decommissioning work begins in the Campos and the Sergipe-Alagoas Basins.

The complete paper discusses the systematic approach adopted by a service company to achieve the goal of safely abandoning wells offshore southwest Brazil with different completion types using light workover vessels.

Putting together the billions of dollars needed to develop deepwater finds has become tougher, but when the discoveries are huge, companies will make every effort to find a way to tap what may be a cheap source of oil.