Latin America upstream in brief
Report summary
Table of contents
- Petrobras CEO to be replaced as political pressure mounts
- Petrobras and ExxonMobil strike oil at a pre-salt exploration well
- Mexican regulator approves 15 more exploratory concessions to Pemex
- Guyana and Suriname have different fortunes in early 2021 exploration results
- Bolivia: Repsol closes out the year with tenth discovery of 2020
- Latin America upstream: 5 things to look for in 2021
- Regional onshore oil mature fields can still deliver significant value
- YPF dominates volume and price in Argentina's gas incentive programme
- Pan American Energy extends its position in Vaca Muerta’s black oil window
- Petronas makes its first discovery offshore Suriname
- Brazil’s second open acreage round succeeds amid covid pandemic
- Petrobras doubles down on resilience in its Strategy Day
- Argentina launches broad gas price incentive programme
- PetroRio takes over operatorship of two pre-salt fields from BP
- Petrobras releases the teaser for 50% stake in the Marlim cluster
- Mixed results for ExxonMobil’s Tanager well on the Kaieteur block, Guyana
- Touchstone Exploration is actively moving forward in Trinidad and Tobago project
- Colombian PPAA third cycle starts with bids to all the offered blocks
- Tango FLNG project between YPF and Exmar comes to an early end
- New administration needs to strive to revive Bolivia’s oil and gas sector
- Occidental sells its onshore Colombian assets to the Carlyle Group
- Ecopetrol launches mature fields bid round in Colombia
- Petrobras puts Brazil's Albacora and Albacora Leste fields up for sale
- Total quits Brazil's Equatorial Margin
- ExxonMobil takes the final investment decision (FID) in the Payara project in Guyana
- Pemex presents its 2021 budget led by key asset investment and new areas evaluation
- Petrobras slashes five-year E&P spend by 30%
- Compañía General de Combustibles (CGC) begins gas extraction from its innovative storage project in Southern Argentina
- Pemex hits lowest low in 40 years
- Mexican regulator approves three new concessions to Pemex
- Enauta farms down at Manati gas field
- Shut-in wells from Vaca Muerta come back strongly during June
- Argentina’s liquids production recovers, driven by unconventional assets
- Lack of gas infrastructure challenges Petrobras’ Sergipe-Alagoas project
- Mexican exploration and production commitments put on hold
- Major oil discovery in Block 58 offshore Suriname
- Brazil offshore decommissioning in the 2020s
- Petrobras doubles its FPSO schedule
- Unconventional assets lead production shut-ins in Argentina
- Using Wood Mackenzie Lens to power Upstream insights and analysis
- Webinar: After the crash – what’s changed in Latin America upstream?
- Bahamas Petroleum Company doubles down on exploration strategy
- After the crash – what’s changed in Latin America upstream?
- Are Latam NOCs prepared for the tough road ahead?
- Brazil is the third largest country in decommissioning capex this decade
- Private operators pave their way in Mexico
- How have Andean countries reacted to the low oil price scenario?
- Talos and Pemex unitisation: 120 days to reach an agreement
- Qatar Petroleum farms into Total’s blocks, Shell bows out
- Repsol plunges into Mexican Deepwaters; wins big
- Brazil's 2020 rounds officially suspended
- Fiscal burden to threaten new pre-salt frontier in Brazil?
- Last call for Venezuelan waivers
- Ecuador’s SOTE and OCP pipelines interrupt operation s
- Apache and Total announce the second deepwater discovery in Suriname
- Rosneft terminates all Venezuelan assets
- Venezuela's heavy oil in hot water
- Latin America’s 2020 oil production can be hit hard by the oil price crash
- Operators to trim 20% of exploration budgets in Brazil this year
- Buzios’s fourth FPSO makes Brazil’s output reach a new record
- Eni announces second discovery in Mexico, expects to extend its good run
- Vaca Muerta will wait for signals from new authorities
- Long-awaited FIDs to be taken and production ramping up
- Will Brazil’s pre-salt exploration wells disappoint?
- US sanctions on Venezuela have taken a hard hit on Trinidad’s gas industry
- Encouraging results in Colombia’s Lower Magdalena Valley discovery
- Drilling permits challenge Brazil Equatorial Margin potential
- Brazil's PetroRio buys FPSO and 80% of Tubarão Martelo oil field
- New gas discoveries breathe life into the T&T economy
- Stabroek block strike of success continues with 16th discovery and resource upgrade
- A major change in Brazil’s PSC regime looks closer
- Pemex delays development of Zama
- A good start to the year for Brazil’s pre-salt
- PDVSA falls short as operator
- Repsol’s Carapa-1 well comes below expectations
- ExxonMobil announces Liza’s first oil in Guyana
- Total acquires a 50% stake from Apache in Suriname’s Block 58
- Can the PSC terms be blamed for Brazil’s failure to attract IOC interest in the latest rounds?
- Chevron exits upstream Colombia with sale to Hocol
- Colombia's PPAA keeps bolstering the E&P sector
- Dominican Republic awards block in first licensing round
- Petrobras to sell 30% stake in Brazil’s Frade to PetroRio
- Geopark increases its presence in Colombia
- What is the future of bid rounds in Brazil?
- Petrobras has returned to the headlines in Brazil’s rounds
-
Exxonmobil, BP and Shell joined Petrobras and stand out after Brazil’s recent rounds
- Operator diversity 21 years after the E&P market opening
- A successful market opening: BP surpassed Shell, while Repsol, Chevron and Qatar Petroleum doubled acreage
- Brazil’s Transfer of Rights surplus round: a real test to capital discipline
- Brazil’s 17th Round – Will the lingering above-ground risks remain a significant hurdle for the frontier acreages?
- Ecopetrol increases its pre-salt presence in Brazil
- Brazil's Concession Round 16: a multitude of operators and record bonus
- Chevron to take 40% of three Shell’s deep-water blocks
- Four events in worthy of attention that might bring Pemex farm-outs back
- Petrofac finds it exit - Perenco to acquire remaining Mexico assets
- Colombia announces new round and concedes to fracking pilot
- Brazil's onshore might finally get its glory
- Mexico: Will the government be able to get Pemex back into shape?
- Gran Tierra on the hot foot, spudding first well in less than a year after the Intracampos licensing round
- Primary election result wreaks economic instability to Argentina
- Pemex gets to keep Round Zero acreage
- Petrobras has turned a corner. But can it deliver peer-leading growth?
- Exploration success in Guyana beyond the Stabroek block
- Open process for new gas pipeline in Argentina
- Brazilian upstream market more diverse than ever
- A US$190 million deal marks 3R Petroleum’s debut as an operator in Brazil
- Ecopetrol in Midland Permian tie-up with Oxy
- Washington Venezuela sanctions: Between a rock and a hard place
- ConocoPhillips farms into two Vaca Muerta blocks with Wintershall Dea
- First Liza FPSO set sail en route to Guyana
- Petrobras fully divests three mature fields in Brazil
- Back to licensing rounds: Colombia's Permanent Offer (PPAA) results
- The Dominican Republic joins other Caribbean countries with the launch of its first bid round
- Colombia’s conventional activity picks up while uncons remain unsuccessful
- Zama appraisal campaign closes big
- Foreign oil companies move forward with exploration work in offshore Brazil
Tables and charts
This report includes 53 images and tables including:
- Older stories
- Average sales gas and injection commitments by Basin
- Average sales gas and injection commitments in Neuquina Basin
- Aguada de Canepa is close to major oil developments in Vaca Muerta
- Brazil’s second open acreage: 18 awards across seven basins
- Petrobras: five-year capex cut by 27%
- Marlim cluster is one of the largest upstream divestment
- Occidental's onshore Colombia portfolio
- Project location
- Monthly and cumulative gas injection
- Pemex Production 2020
- Comparison of well monthly production for June 2020 and previous peak in Bajada del Palo
- Kwaskwasi-1 and planned Keskesi East-1
- Pre- and post-crash investment forecast for Latin America
- Top 5 countries in decommissioning costs for the decade (2020-29)
- Production outlook from Mexican early rounds projects
- Block 15
- Polok and Chinwol
- Breakeven price for medium size/medium cost and large size/large cost deepwater oil field under different fiscal scenarios
- Ecuador main oil transport system and associated blocks
- Top 10* Company Reserves
- At a Brent price of US$25/bbl, revenue from 10 million b/d (9%) of global liquids supply does not cover production costs and government share
- Buzios’s FPSOs ramp up (ANP data available until December 2019)
- Saasken-1 Location
- Eni’s upcoming wells
- Cross-bordering fields
- Partners' production in Colombia
- Remaining reserves by onshore basin
- A nine kilometers tieback would boost production on PetroRio’s combined development
- T&T gas production projection (bcf/d)
- Stabroek block resource addition per year
- Zama
- Activities moving forward in a highly prospective corner in pre-salt
- Companies’ acreage in Venezuela excluding PDVSA
- Fiscal terms benchmark for a 600 mmboe pre-salt field in Brazil
- GeoPark and Amerisur Colombian Blocks
- Signature bonuses for Brazil blocks in 2019 were 90% of bonus raised globally
- If Gato do Mato development goes ahead, Ecopetrol will accelerate its production in Brazil as Saturno and Pau-Brasil still depend on exploration results
- Round 16 signature bonus payments for 12 blocks surpassed US$2 billion
- Shell's blocks partially acquired by Chevron
- Transactions 2018 - 2019
- Transactions 2018 - 2019
- Onshore blocks located in northeast Brazil dominated the round, with geographic diversification across three different basins
- Oil Production (mb/d)
- Government take from early projects*
- Intracampos licensing round - blocks awarded
- New gas pipeline will help but not solve debottleneck transport infrastructure
- Since 1998, 13 new operators have joined Petrobras in the Campos and Santos basins
- Both blocks sit close to the Vaca Muerta’s already sanctioned projects
- VIM 22 block was the only block that received a counteroffer
- Map of 2019 Dominican Republic Licensing Round
What's included
This report contains:
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