Oil & Gas: The week in 10 stories

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Friday, February 9, 2018

ARGENTINA

The government published the offers it received for contracts to build expansions to the Cordillerano-Patagónico natural gas pipeline network in the province of Chubut and the La Costa network in Buenos Aires province.

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Tecpetrol opened a gas separation plant for unconventional wells in the Fortín de Piedra area in Vaca Muerta following a US$30mn investment. Gas production is expected to reach 15Mm3 in 2019, 10% of the country's gas consumption.

BRAZIL

National oil firm Petrobras said it plans to launch a tender in mid-February to construct and operate a floating production platform for its Parque das Baleias project in the Campos basin.

CEO Pedro Parente also revealed that Petrobras is moving forward with partner negotiations to unlock projects in the refining sector.

Norwegian state oil company Statoil plans to drill up to five wells in Brazil during the next two years, focusing on the N-S-8 block. With reservoirs estimated at 2Bboe, the asset is expected to produce first oil in 2024.

COLOMBIA

Local fuel distributor Terpel secured 1.73tn pesos (US$603mn) in financing for its planned acquisition of assets held by ExxonMobil in Colombia, Peru and Ecuador.

MEXICO

The government said it expects US$25bn investment in the energy sector as a result of E&P contracts at auctions, as well as from seismic surveys, pipeline construction and power generation plant construction.

The energy ministry also highlighted the country's shale gas production potential, with Mexico ranking sixth worldwide in terms of resources.

State oil firm Pemex said it is intensifying the battle against fuel theft, which is a costly problem for the company.

REGIONAL

Latin America's rig count declined in the first month of this year, to 191 from 195 in December.