Contract Between Two Oil And Gas Giants Aims To Gather Information From The Santos Basin
Petrobras and PXGEO are planning a 3D survey that is scheduled to be acquired at water depth of 2,300 meters in the Santos Basin, lasting approximately four months, according to the contract signed between Petrobras and PXGEO.
According to PXGEO’s CEO, Peter Zickerman: “This will be our fourth oil and gas project in the Santos Basin acquired for Petrobras since mid-2021, demonstrating our ongoing commitment to providing safe and efficient OBN acquisition solutions in the deep waters of the Santos Basin in Brazil.”
Petrobras And PXGEO Will Work Together On OBN Projects In The Santos Basin
Production at Sépia by Petrobras in the Santos Basin began in 2021 and aims for a plateau of 180,000 barrels of oil per day with the first FPSO. Petrobras is expected to increase total oil production from the Santos Basin field to around 350,000 b/d.
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Petrobras buys 75% of Oranto and becomes the operator of block 3 in São Tomé and Príncipe, resuming its strategy in Africa to diversify its portfolio and replenish oil and gas reserves.
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China inaugurates a new era by signing a $5.1 billion project to expand one of the largest gas fields on the planet, adding 10 billion m³ per year and reinforcing an energy mechanism that already moves 30 billion m³ annually towards its market.
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While the world felt the pinch of rising oil prices, oil companies pocketed at least $23 billion extra from the crisis in Ormuz.
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Oil plummets more than 10% and the market turns upside down after Iran opens Hormuz and eases fears about the main route in the Gulf.
Petrobras is the operator of the shared oil and gas reservoir of Sépia, with 55.3%; TotalEnergies with 16.9%; Petronas Petróleo Brasil and QatarEnergy with 12.7% each; and Petrogal with 2.4%.
Petrobras announced at the end of October 2022 that it had made an oil discovery in a well located in the shared area of Sépia. In December, the company began the process of contracting two floating production, storage and offloading (FPSO) units for the shared reservoirs of the deep-water oil fields of Atapu and Sépia and in the Santos Basin.
More About Oil And Gas: Unwavering Leadership: SHELL Is The Most Valuable Oil And Gas Brand In The World, Ranked At The Top For The 9th Consecutive Year
The brand valuation consultancy Brand Finance released its Oil & Gas 50 2023 ranking, which ranks the 50 most valuable and strongest oil and gas brands in the world. According to the ranking, Shell was recognized as the most valuable oil and gas brand in the world for the ninth consecutive year.
According to Brand Finance, brand value is defined as the net economic benefit that its owner would obtain by licensing it in the open market. Meanwhile, brand strength is represented by the effectiveness of its performance on intangible measures compared to its competitors.
Despite experiencing a 3% decrease in brand value, Shell maintained its position as the most valuable oil and gas brand in the world, with a value of US$ 48.2 billion. However, the Saudi oil and gas giant, Aramco, narrowed the gap between itself and Shell with a brand value that increased by 4%, to US$ 45.2 billion. Read this article in full by clicking here.

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