Petrobras announced the increased investment plans for the emerging Santos basin pre-salt assets, earmarking 73 billion US dollars for the 2011-2015 period. The vast sum is a 63% increase compared with the company’s 2010-2014 plan said a company statement.
China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
Some of the world’s leading oil companies turned up at the Uruguay Round II informative session for operators interested in participating in the biding process for offshore exploration in Uruguay’s South Atlantic.
Brazil’s production of oil and natural gas in December 2010 surpassed the previous one-month record, according to a release from the ANP regulatory agency. December 2010 oil output of 2.18 million barrels per day represents a 4.4% increase over November and was 9.1% higher than in December 2009.
The Brazilian government and Navy are considering an ambitious plan for launching an offshore subsea lab to be located at the limit of the country´s territorial waters and beyond the farthest pre-salt play
Brazil’s oil regulator ANP said it concluded its first test at the Franco offshore field, which holds the oil reserves that the government may sell state-controlled Petroleo Brasileiro SA, Petrobras, in exchange for new stock.
Royal Dutch Shell Brazil discovered oil in the Campos Basin's pre-salt region, the company said Tuesday. In a statement, Shell Brazil said it had discovered oil in the 3-SHEL-22-ESS well at the Nautilus field, part of the Parque das Conchas development that went on-stream in July 2009.