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Brazil alone is expected to contribute around 18% or 1455 thousand bpd of global crude oil and condensate production from key offshore planned and announced projects (new-build projects) in 2025.
The increase in medium crude from Brazil will be one of the few sources of non-US supply growth this year, says ESAI Energy's Latin America Watch.
The company has agreed to pay a total of US$301.3 million to these authorities to resolve investigations into conduct dating back over a decade ago.
The first oil production by the FPSO is planned for 2022, and the firm time charter period of the contract is 21 years.
The 10% interest in the BM-S8-block in Brazil's Santos basin has been acquired by Equinor from Barra Energia for US$379 million.
The company owns 13 license areas in the Solimões Basin in the Brazilian state of Amazonas with a total acreage of approximately 32 600 km2.
The consortium plans four new production systems to be deployed in the Mero field offshore Santos Basin in Brazil.
BW Energy was established in late 2016 and has since developed a portfolio of upstream oil and gas assets in West Africa and Brazil.
The contract entails engineering, procurement, construction and installation of subsea risers and flowlines for the first phase of the Sepia field, offshore Rio de Janerio.
Oilfield technology firm Airborne Oil & Gas and engineering company Símeros Technologies are collaborating to qualify dynamic deepwater thermoplastic composite pipe risers in Brazil.
The company executed three sale and purchase agreements to sell the assets.
The contract covers the supply of flexible pipes for oil production, gas lift and gas injection as well as associated accessories.