News
March 18, 2026
Petrobras has confirmed a new deepwater gas discovery at the Copoazu-1 well in Colombia’s offshore GUA-OFF-0 Block, expanding the region’s gas potential and supporting long-term energy supply through continued exploration activity.
News
March 18, 2026
Baker Hughes has secured a long-term services agreement with Petrobras to support up to 64 aeroderivative gas turbines across Brazil’s offshore FPSO fleet and a major refinery, strengthening reliability and local supply chain capabilities.
News
March 17, 2026
Petrobras plans to acquire Petronas’ 50% stake in the Tartaruga Verde and Espadarte Module III fields in Brazil’s Campos basin for $450 million, consolidating full ownership and strengthening its offshore production portfolio.
News
March 16, 2026
ExxonMobil and Halliburton have completed the industry’s first fully closed-loop automated geological well placement offshore Guyana, integrating rig automation, automated geosteering and real-time drilling optimization to improve well construction efficiency and reservoir contact.
News
March 12, 2026
Gas injection has begun on the Petrobras P-78 FPSO at the Búzios field offshore Brazil, marking another milestone for one of the largest deepwater developments in the Santos basin.
News
March 12, 2026
Oceânica Engenharia has secured $736 million in long-term offshore service contracts with Petrobras, covering subsea support vessels and ROV operations for inspection, maintenance and intervention work through 2031.
News
March 11, 2026
Eco Atlantic has agreed to acquire JHI Associates in a deal valued at about $52 million, gaining offshore exploration interests in the North Falkland basin and Guyana’s Canje block.
News
March 11, 2026
Guyana is advancing a 25,000-sq-km offshore multi-client seismic survey supported by Viridien to improve subsurface data, de-risk exploration and support future licensing rounds in the Guyana basin.
News
March 11, 2026
TotalEnergies has started production from the Lapa South-West project in Brazil’s Santos basin, adding 25,000 bpd through new wells tied back to the existing Lapa FPSO as the company expands its offshore portfolio.
News
March 10, 2026
Frontera Energy is moving ahead with a $525 million deal to sell its Colombian upstream assets to Parex Resources after GeoPark declined to match the rival bid, clearing the way for a major shift in Colombia’s independent oil and gas landscape.
News
March 06, 2026
Petrobras reported net income of $19.6 billion in 2025 as oil and gas production increased 11% to nearly 3 MMboed, supported by new FPSOs in Brazil’s Búzios and Mero fields.
News
March 06, 2026
Parex Resources has submitted a $500 million bid to acquire Frontera Energy’s upstream oil and gas assets in Colombia, a proposal the company says is superior to its previously announced transaction with GeoPark.
News
March 04, 2026
The African Energy Chamber has signed a cooperation agreement with Venezuela’s energy ministry and PDVSA to expand upstream investment, gas development and energy trade between Africa and the South American producer.
News
March 03, 2026
Argentina has expanded its RIGI tax incentive program to include Vaca Muerta shale oil wells, a move expected to accelerate upstream investment and boost development returns by up to 12%, according to analysts.
News
March 02, 2026
OceanPact and CBO will combine to form a 73-vessel offshore support fleet in Brazil, strengthening oilfield services, subsea and decommissioning capabilities.
News
March 02, 2026
Petro-Victory has started drilling the SJ-12 well at the São João field in Brazil’s Barreirinhas basin, targeting 50.1 Bcf of non-associated gas resources.
News
February 27, 2026
Venezuela’s PDVSA and Hydrocarbon Ministry have signed a memorandum of understanding with the African Energy Chamber to strengthen oil and gas investment, upstream cooperation and joint energy development initiatives.
News
February 27, 2026
Venezuela has canceled the auction of assets seized from Halliburton after pressure from the U.S. government, a move seen as clearing the way for the oilfield services giant’s return amid efforts to revive the country’s oil sector under U.S. engagement.
News
February 26, 2026
Guyana President Irfaan Ali will deliver the opening address at OTC 2026 in Houston, highlighting the country’s rapid rise as a major offshore oil producer and its growing role in global offshore investment and technology development.
Article
February
Can Venezuela rebuild its oil sector without repeating the mistakes of the past? In this Executive Viewpoint, Texas Railroad Commissioner Wayne Christian argues that a transparent, market-driven regulatory model—not OPEC-style centralized control—offers the most credible path to restoring investment, stability and long-term production growth in the world’s largest resource base.
News
February 24, 2026
ExxonMobil says rapid production growth in Guyana is strengthening its hand in negotiations for the next generation of global oil projects as competition for reserves intensifies.
