The state-run energy firms of Chile and Argentina said on Wednesday they had inaugurated a US$ 354 million project to increase production of natural gas off the southern tip of South America.
An Environmental Impact Statement (EIS) has been submitted to the Falkland Islands Government by Premier Oil Exploration and Production Limited. The EIS covers the proposed development activity for Phase 1 of the offshore Sea Lion oilfield, located in the North Falklands Basin approximately 120 miles to the north of the Falkland Islands.
Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.
France’s Total has been awarded an exploration licence for block 14 offshore Uruguay, following a second bid round staged by state-owned company ANCAP. Confirmation of the award is subject to further approval by Uruguayan authorities.
Brazilian judge denied an injunction seeking to bar oil company Chevron Corp and drill-rig operator Transocean Ltd from operating in Brazil after two offshore oil leaks, a federal court in Rio de Janeiro said this week.
Petrobras has discovered light oil and gas accumulation in the Tambuata prospect in Brazil’s offshore Espirto Santo basin. Well 4-GLF-31-ESS was drilled in 1.520 metres water depth in the Golfinho Concession (4-BRSA-1001-ESS).
Brazilian oil and gas start-up HRT boosted its net potential oil resources 12% to 7.9 billion barrels of oil equivalent (boe) following a certification study of its assets in Namibia.
Relying on the expected growth of the oil and gas industry in Brazil and the influx of new rigs and floating production, storage and offloading, FPSO, in the Brazilian offshore market, British manufacturer, Rolls Royse is set to make a 60 million US dollars investment in a new plant to build energy modules for offshore rigs.
Cuba hopes to counter US worries over its plans to start its first full-scale offshore oil exploration in a rare presentation this week to an energy audience outside the island.
The Argentine senate unanimously approved Wednesday a bill that bars companies and persons from participating in hydrocarbons exploration and exploitation activities in the Argentine continental platform (which includes the Falkland Islands), and proscribes fines for infractions and barring periods of time from 5 to 20 years for companies that violate the law.