Miguel Mollinedo

Petrobras & Shell Double Down on Brazil's Offshore Potential: Secure 26 Pelotas Basin Blocks Energy giants Petrobras and Shell have ramped up their commitment to Brazil's offshore oil and gas sector by signing concession contracts for 26 blocks in the prolific Pelotas Basin. This significant move signals renewed confidence in Brazil's offshore potential and could lead to a surge in exploration activity in the coming years. Key Point ✅ Companies: Petrobras (operator, 70% stake) and Shell (30% stake) ✅ Location: Pelotas Basin, offshore Brazil ✅ Resources: Exploration of potential oil and gas reserves ✅ Investment: Long-term commitment to Brazilian offshore development ✅ Impact: Potential for increased oil production, economic growth, and job creation in Brazil Food for Thought: ·     How will this project impact Brazil's plans for energy diversification and renewable energy development? #Petrobras #Shell #PelotasBasin #Brazil #OffshoreOilAndGas #Exploration #EnergyInvestment #Sustainability

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🚢🛢️ Yinson Production successfully placed $1.035 billion in senior secured notes to refinance the FPSO Anna Nery, which operates in Petrobras’ Marlim field offshore Brazil. The 144A/Reg S non-recourse notes were issued by Yinson Boronia Production, the entity owning and operating Anna Nery under a 25-year contract. Yinson Production holds 75% of the issuer's shares, while Sumitomo Corporation holds 25%. The notes have an 18.2-year maturity, a fixed coupon of 8.947%, and are fully amortizing. 🌏💼 The notes were sold to qualified institutional buyers in the U.S. and international buyers, and the proceeds are expected to refinance existing debts maturing in 2026, unwind hedge arrangements, fund reserve accounts, cover transaction-related fees, and provide distributions to shareholders of both Yinson and Sumitomo. The FPSO Anna Nery, which started production in May 2023 as part of Petrobras' Marlim and Voador fields revitalization project, can produce up to 70,000 BOPD of oil and process 142MMSCFD of gas.

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Petrobras’ P-19 Oil Platform Listing Dangerously in Campos Basin Petrobras P-19 oil platform, located in Brazil’s Campos Basin, experienced a dangerous list, sending shockwaves through the offshore drilling community. The incident, which quickly went viral as images of the inclined platform spread across social media, sparked widespread concern among workers, families, and industry observers. So far, neither Petrobras nor Sindipetro-ES NF, the oil workers’ union, has released an official statement detailing the cause of the list. However, preliminary reports indicate that all workers were evacuated safely, and only a specialized ballast team remains on board to stabilize the unit and address the heeling. This event serves as a stark reminder of the inherent risks in offshore drilling and the critical need for robust safety protocols. Emergency preparedness and rapid response procedures have proven vital in ensuring the safety of personnel, but the incident raises important questions about the operational standards and safety conditions aboard Petrobras’ platforms. Petrobras is expected to issue a formal statement soon, outlining the incident and the steps being taken to resolve the situation. In the meantime, this incident underscores the ongoing need for rigorous oversight, investment in safety systems, and continuous improvements in operational safety on all offshore units to protect both workers and the environment. The safety and well-being of workers must always remain the highest priority, particularly in high-risk environments like oil platforms. Events like this reinforce the importance of strict adherence to safety protocols and emphasize the critical responsibility companies have to maintain the highest operational standards. Original Post 👉🏼 https://lnkd.in/dWWcpBAN 📸 Credit Petrobras. Good luck to all and wishing a safe recovery 🙏🙏🙏 #oilandgas #drilling #management #production

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After an intense week, the hang-out week after looks as active and full of surprises. Petrobras is gearing up for a significant shift in its strategic focus with the upcoming 2025-2029 plan. As outlined by Chief Financial Officer Fernando Melgarejo, this new direction emphasizes upstream operations, aiming to rebuild and sustain the company’s oil and gas reserves. The 2025-2029 strategic plan will prioritize upstream activities, which include exploration and production. This shift is crucial as Petrobras anticipates a reduction in its oil and gas reserves by 2030, a scenario described as “uncomfortable” by Melgarejo. The company aims to replenish these reserves to ensure long-term sustainability. Unlike previous plans, the new strategy does not foresee major mergers or acquisitions. This approach is designed to maintain financial stability without significantly increasing debt. Petrobras recently completed a $1 billion issuance in dollar-denominated global notes, reflecting market confidence in its financial health. Environmental Balance: While the focus is on upstream o Petrobras is actively exploring new frontiers, such as the environmentally sensitive Equatorial Margin, Brazil’s most promising oil frontier. Additionally, the company has ongoing projects in other countries, including natural gas exploration in Colombia, an interest moving to Namibia and Suriname, recently. These initiatives are part of the broader strategy to enhance resource availability. Leadership and Market Confidence: The strategic shift comes under the leadership of Magda Chambriard The recent issuance of global notes under her leadership indicates strong market confidence in Petrobras’ direction. After all... Petrobras’ 2025-2029 strategic plan represents a pivotal moment for the company as it seeks to balance the need for resource replenishment with financial prudence and environmental responsibility. By focusing on upstream operations and maintaining a stable financial outlook, Petrobras aims to secure its position as a leading player in the global energy market while continuing to advance its energy transition goals. This strategic vision underscores the company’s commitment to sustainable growth and long-term resilience in an evolving energy landscape. #petrobras #inovvation #wayforward #goals #future #insightswithpablocosta Source: https://lnkd.in/dXdsiRcU

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🇧🇷🌊🚢 Petrobras is preparing to tender for its 12th FPSO unit at the Buzios pre-salt field, after receiving positive market feedback. Buzios, Brazil’s largest field, holds 11.3 billion barrels of recoverable reserves. Companies like SBM Offshore, Modec, BW Offshore, and others are expected to compete in the bidding, which will be launched in the first half of 2025 under a Build-Operate-Transfer (BOT) model. The BOT model will allow the contractor to operate the FPSO for a limited time before handing control to Petrobras. 💼💡📈 Petrobras is refining the FPSO specifications, with options to process 180,000 to 200,000 BPD of oil and handle between 10 and 16 MMCMD of gas. A key focus for Buzios-12 is to increase gas export capacity, addressing the current limitation where gas is reinjected into the reservoir to boost oil recovery. By targeting wells with a higher gas-to-oil ratio, Petrobras aims to improve gas transport to shore. The final decision on the FPSO size and contract strategy will be made by early 2025.

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Brazil FPSO start-up alert! Petrobras has brought the Maria Quiteria FPSO online, six months ahead of schedule, at the Nova Jubarte field in the Campos Basin. This field comprises the Jubarte, Baleia Ana, Cachalote, Caxareu, Pirambu, and Manganga accumulations. It produced ~110,000 bbl/d in August 2024 through the P-57, P-58, and Cidade Anchieta FPSOs. Petrobras holds 100% of the concession. The new 100,000 bbl/d FPSO is part of Nova Jubarte's revitalization and produces along with the other three FPSOs. The Maria Quiteria, leased from Yinson, is equipped with low-emission technologies to enhance production efficiency and is expected to reduce CO2 emissions by 24%. By year-end, Petrobras also plans to bring the Mal. Duque de Caxias FPSO (Mero) and potentially Alm. Tamandare FPSO (Buzios) online.

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Tupi Revitalization: Securing Brazil’s Future Petrobras recently announced plans to revitalize the Tupi oil field, a key player in Brazil's pre-salt production. As one of the deepest fields ever explored, Tupi's importance to Brazil's energy independence and economic stability cannot be overstated. Why This Matters? Tupi was a game-changer for Brazil, propelling the country into the ranks of top global oil producers. However, with natural production declines, revitalizing this field is essential to maintain the energy supply and ensure continued revenue. Investing in advanced technologies and overcoming tax disputes are vital steps for Petrobras to keep Tupi competitive in the global market. A Strategic Move for the Future Petrobras’ revitalization plan is not just about prolonging Tupi’s life, but about securing Brazil’s long-term energy future. With the right investments, Tupi can continue to be a significant source of wealth and sustainability for the country. Source: https://lnkd.in/d5Fb3ftN

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“Petrobras has confirmed a significant gas discovery in Colombia's Guajira offshore basin, estimating the potential reserves at around 6 trillion cubic feet (Tcf). The discovery was made in the Sirius-1 and Sirius-2 wells, formerly known as Uchuva-1 and Uchuva-2. The gas find underscores the importance of the area for Colombia’s energy market. Petrobras, operating through its subsidiary Petrobras International Braspetro B.V. - Colombia, holds a 44.44% stake in the consortium, with the remaining 55.56% held by Ecopetrol. The consortium will continue working to develop the area, adhering to its planning and contractual agreements with the National Hydrocarbons Agency (ANH). Further studies will be conducted to assess the commercial viability of the reserves.” (World Oil) https://lnkd.in/dTr5A8dn

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The technology intended for higher reliability and profitability will be tested in the Campos Basin and may be available to the market by 2030.  petrobras.com.br P-57 operating in the Jubarte Field To improve the efficiency and safety of deep-water oil and gas activities, Petrobras and Curtiss-Wright have entered into a technological cooperation agreement to design a fully electric, highly reliable subsea pumping system with far less dependency on the production platform. The new equipment produced by the partnership will reduce vessel costs, enable production through long subsea flowlines connecting the platform to the well, and help revitalize mature fields. Upon successful prototype testing, scheduled to begin in 2026 in the Jubarte and Espadarte fields in Campos Basin, it is expected to be available to the market as early as 2028. The system Petrobras and Curtiss-Wright developed will pump raw oil and gas mixtures in a depth of up to 1,500 meters of water

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🌱🛢️Petrobras announces plan for fertilizer plant Petrobras, Brazil’s state-controlled oil and gas giant, will finish the construction of a fertilizer plant in Três Lagoas (Mato Grosso do Sul state), the company announced on Monday. The project had been dormant since 2015 and, at one point, Petrobras tried to move away from it completely — but failed to sell it off. Its reassessment process began last year following approval for the company’s return to the fertilizer sector, aligned with the strategic guidelines set under the 2024-2028 Strategic Plan. The decision includes the project in the company’s strategic plan. Petrobras will initiate the processes to resume work on the unit. The estimated investment to complete UFN-III is approximately BRL 3.5 billion (USD 613 million), with operations projected to begin in 2028. “Even if the project has a positive net present value, investing in fertilizers is not the best use of Petrobras’s focus and resources,” brokerage firm XP wrote in a report to clients. “A counterargument to this perspective is that the fertilizer business provides demand for Petrobras’s natural gas and offers diversification and resilience against lower oil prices,” it added. 🔗Read more in our full article here 👇 https://lnkd.in/drriXdHX #OilandGas #Petrobras #Agribusiness #Brazil

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As Namibia's offshore oil and gas sector experiences a remarkable boom, striking similarities with South America's Pelotas Basin are emerging. Both regions share intriguing geological features, particularly in their structures and reservoir systems, hinting at significant hydrocarbon potential. Thanks to recent breakthroughs in seismic imaging and geophysical technology, the potential for major discoveries is greater than ever. Namibia's offshore success highlights how frontier basins can evolve into prolific discoveries, when advanced exploration techniques align with strategic investments. At TGS, we are strategically positioned to unlock the vast potential of the Pelotas Basin. Our seismic coverage extends across most of the ANP blocks in the basin, reaching the border of Uruguay and a section of the Southern Santos ANP Basin, all the way up to the salt limit. This includes 55 awarded blocks, 133 permanent offer blocks, 59 blocks under study, and 59 nominated blocks. 🌍 With the right combination of technology, expertise, and exploration strategy, the Pelotas Basin could mirror the transformative discoveries happening across the Atlantic in Namibia. #TGS #Petrobras #Seismic #Geophysics

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Is #SEAP a concern to Petrobras at this point? Difficult to make any predictions, sure. But, at the very least is something all of was pay attention! The project is a strategic initiative of Petrobras to develop the ultra-deepwater oil and gas fields in the Sergipe-Alagoas basin. The goal ? is to increase the production and reserves of the company, as well as to generate economic and social benefits for the region - the new gas development epicenter in Brazil. Well, make your bets. Here is the thing, the company is facing difficulties in attracting interest parties to execute the nid execution of two new FPSOs, and chances are the company will have no choice other than to re-bid, with no guarantees that this would make anything any better. Have we ever wonder why? Well, here are some tips which might resonate with other endeavors in the future, if we are not careful: (1) Overall Market Conditions: At any time, the global oil market can influence interest in new projects. Fluctuating oil prices, supply and demand dynamics, and competition from other energy sources can impact investment decisions as well as the (2) Technical Complexity: SEAP involves deepwater exploration. The technical demands of such projects can limit the number of companies capable of participating. (3) Financial Risk: Deepwater projects are capital-intensive and carry higher financial risks. Companies may be cautious about committing to such investments, especially in uncertain economic times. (3) Environment: The regulatory framework in Brazil, including local content requirements and environmental regulations, can affect the attractiveness of the project to potential investors and contractors. (4) Petrobras’ Strategy: Petrobras’ approach to the tender process, including its technical specifications and contract terms, may not align with the expectations or capabilities of potential bidders. (5) Geopolitical: The country's economic stability and policies can also play a role in investment decisions. Companies consider the political and economic stability of the region before committing to long-term projects. If there's one undeniable fact, Petrobras may need to reassess and possibly adjust its strategy to make the SEAP project more appealing to potential bidders - And fast! This could involve revising contract terms, offering incentives, or partnering with other companies to share the risks and rewards of the project’s development. We all want #seap to happen, the question is when and how. We are confident Petrobras will take things to the right place 👌 #insightswithpablocosta #seap #petrobras #future

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Market Report: Overview: Petrobras, Brazil's state-controlled oil company, is set to embark on a significant expansion in Exploration and Production (E&P) activities over the next five years. With a substantial budget allocation and strategic plans, Petrobras aims to increase its production capacity while enhancing its operational efficiency. Budget Allocation: Petrobras has allocated a substantial budget of USD 73 billion for its E&P endeavors spanning from 2024 to 2028. This investment underscores the company's commitment to bolstering its presence in the energy sector. Production Targets: A key objective for Petrobras is to ramp up its production levels. The company aims to elevate its production from 2.8 million barrels of oil equivalent (miboe) to 3.2 miboe, reflecting its ambition for growth and market leadership. FPSO Expansion: Petrobras plans to deploy 14 Floating Production Storage and Offloading (FPSO) vessels between 2024 and 2028. Of these, contracts for 10 FPSOs have already been secured, with an additional 4 FPSOs currently under the tendering process. This expansion in FPSO infrastructure signifies Petrobras's strategic move to enhance its offshore production capabilities. Drilling Fleet Expansion: Petrobras is expanding their Drilling Fleet with expected arrival for new units within 2024, boosting the need for additional Platform supply vessel capacity. Tender Releases: In line with its expansion strategy, Petrobras is set to release tenders for various vessel categories. This includes: AHTS (Anchor Handling Tug Supply) Vessels: Tenders are expected to be issued for vessels with a bollard pull of 150 tons. OSRV (Oil Spill Recovery Vessels): Petrobras plans to procure vessels specialized in oil spill recovery, emphasizing its commitment to environmental stewardship. PSVs (Platform Supply Vessels): Petrobras intends to issue two additional tenders for PSVs in 2024, with one scheduled by the end of the first half and another by the the second half aiming delivery for 2025. Additionally, the company anticipates releasing two more tenders for PSVs in 2025 aiming to compose their logistics needs.

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#Brazil’s National Petroleum Agency (ANP - Agência Nacional do Petróleo, Gás Natural e Biocombustíveis) is looking to add three new pre-salt areas to the growing list of #exploration blocks that can be potentially offered to investors at forthcoming oil and gas rounds in the country. https://lnkd.in/dtsZf9mW

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𝐅𝐏𝐒𝐎 𝐌𝐚𝐫𝐢𝐚 𝐐𝐮𝐢𝐭é𝐫𝐢𝐚 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐅𝐢𝐫𝐬𝐭 𝐎𝐢𝐥 𝐢𝐧 𝐉𝐮𝐛𝐚𝐫𝐭𝐞 On Tuesday, October 15th, Petrobras announced FPSO Maria Quitéria’s first oil in the Campos Basin. The production unit, located near the Espírito Santo coast in the Jubarte field (fully owned by Petrobras), was designed to produce up to 100,000 barrels of oil and process 5 million cubic meters of gas daily. Once fully operational, Maria Quitéria will be connected to eight producing wells and eight injectors and is expected to account for 40% of the field's production, joining Petrobras 57, Petrobras 58, and Cidade de Anchieta FPSOs in the Parque das Baleias project. Over the past three months, Jubarte has produced around 140 kboe/day, with over 30 wells currently in operation. #Petrobras #CamposBasin #JubarteField #presalt #possalt #oilandgas #oil #gas #production #fpso #Brazil #geopost #katalystdm

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Innovative geothermal drilling company GA Drilling has announced that it has entered into a technical cooperation program with state-owned Brazilian multinational energy company Petrobras that will help bring into fruition GA Drilling’s next-generation downhole drilling system. In cooperation with Cenpes, Petrobras’ research, development, and innovation center, the partnership pairs Petrobras with GA Drilling’s technology, a downhole anchoring and drive system that will form the cornerstone of an advanced autonomous reeled drilling system. The collaboration aims to enable deep and complex offshore wells to be drilled from a light well intervention vessel rather than a more costly semi-sub or drill ship, saving 30% of well construction cost. GA Drilling’s novel system significantly improves drilling efficiency and enables the replacement of conventional drill pipe with reeled continuous tubing, thus minimizing pipe handling hazards, tripping times, and well control risk. The new technology includes sophisticated drilling automation and control systems and real-time wireline communications to the surface that optimizes and drives the drilling process downhole at the rock face rather than many thousands of feet above. https://lnkd.in/dz7nA5NS

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Brazil Oil & Gas - On Wednesday,17, Estadão reported that PBR (Petrobras) and Mubadala are close to a binding agreement for PBR to repurchase 100% of the Mataripe refinery (formerly RLAM). The refinery was sold to Mubadala in 2021 for US$1.8 billion. https://lnkd.in/de8QkiCa #highlogisticsbrazil #oil #gas #pbr #soya #soyabeans #shippingindustry #shipping #trucking #trade #economy #sugar #icumsa45 #corn #yelloncorn #globaltrade #supplychain #maritimeIndustry #logistics #freight #brazil #businesssolutions #customsclearance #trading #airfreight #seafreight #warehousing #transportation #sales  #maersk #msc #cmacgm #cosco #asonewecan #hapaglloyd  #evergreenline #hamburgsud #yangming #pacificinternacionallines #zimlines #maritimeinsurance  #containerrates #msccargo

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The GaffneyCline energy advisory team from Baker Hughes has successful completed Phase 1 of a pre-feasibility study for #CO2 geological storage in Brazil, which was conducted in collaboration with uisa and Renovar Sustentabilidade. 👏 ​ After facing some geological challenges for the site’s CO2 storage, the team performed a rigorous analysis and re-evaluated the limitations, pinpointing new areas for further study. Currently, #CCUS experts are acquiring data to assess reservoir quality, focusing on key factors such as porosity, permeability, and seal rock integrity. In the next phase, we’ll explore sites closer to the UISA facility, which could significantly reduce CO2 transportation costs. This thorough analysis led to the best recommendation and solution, demonstrating a commitment to delivering exceptional expertise and guidance to energize progress in this field. ​ Learn more about our approach here: https://lnkd.in/gfADijKd #CCUS #RenewableEnergy #EnergyTransition #WeAreBakerHughes

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