Brazil

The BigRoll Bering was spotted leaving Corpus Christi, Texas, on 17 November, headed for the Peregrino heavy-oil field offshore Brazil. Drilling modules and a flare boom are being transported for the field’s Phase 2 development.

P-68 is Petrobras’ fourth FPSO to begin operations this year following the startups of P-67 at the Lula field and P-76 and P-77 at the Buzios field.

Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.

Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.

Nonmetallic, thermoplastic composite pipe (TCP) technology can now be found in every oil and gas region globally and can operate at pressures of up to 12,500 psi, and in water depths as low as 3000 m. The focus is now on developing and deploying TCP risers for extreme environments.

India’s ONGC reported an oil find in Colombia’s Llanos Basin as well as a gas and oil discovery in Brazil’s deepwater Sergipe Alagoas Basin.

The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium.

UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets.

One of the company’s pipelay and construction vessels will install rigid and flexible pipelines for Equinor’s Peregrino Phase 2 project, adding an estimated 273 million bbl of recoverable oil to the field.

Petrobras says it can produce oil for a lower break-even price than onshore shale plays, including the Permian Basin. Brazil’s offshore sector has cut the cost of deepwater production but comparisons based on break-even prices are slippery.