Latin America upstream in brief

Table of contents

• 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
• 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
• Five months into office, AMLO wages a counter-energy reform
• Shell takes the plunge into Mexico's offshore
• CNH Cancels October Pemex Jvs auction
• ExxonMobil sanctions its first Argentina shale development
• Argentina: Boots on the ground in Vaca Muerta
• Petrobras exercises right of preference for two fields in the Surplus Transfer of Rights Bid
• Brazil expects to contract seven new FPSOs this year
• Risk and reward in Latin America's upstream sector
• Uruguay launches new open bid round as it redraws the exploration map
• Pemex and the Energy Reform - five years later
• Upgraders down in the Faja
• Trinidad Bid Round paves the road to consolidation
• Second Liza FPSO receives FID
• Brazil's 2019 exploration bid rounds: more pre-salt blocks on offer
• Why Pemex needs to think beyond nitrogen injection to revive Cantarell
• Petrobras is moving forward in Brazil with its divestment plan
• Pemex offers new investment opportunities for service companies
• Notes from Colombia and Peru
• Petrobras makes progress in Sergipe-Alagoas deepwater assets
• ExxonMobil announces its 13th discovery in Guyana's Stabroek block
• Aqueduct planned for Vaca Muerta
• Phoenix Global Resources granted Mendoza's first unconventional license
• The wait is over for Brazil's 10 billion boe pre-salt discovered resources round
• Repsol's Boyuy-X2 among deepest wells ever drilled in South America
• Upcoming activity in Mexico's Perdido
• Operators shift exploratory efforts to recent block purchases in Brazil
• Intracampos Round a success for Ecuador after seven years with no rounds
• YPF year-end results: shift to unconventional oil in an oversupplied gas market
• Will Colombia’s oil and gas reserves last more than a decade?
• Spend levels in Latin America have stabilizedsince the downturn and we expectgrowth to resume
• Farm-in opportunities in the Guyana basin
• Brazil and Guyana – risk and opportunity in deepwater
• Fortin de Piedra production at risk post ministry announcement
• Argentina's gas price incentive program has run its course
• Gran Tierra increases Colombian portfolio to 43 blocks, consolidating its position in Putumayo
• Another big step for PetroRio to grow through farm-in operations in Brazil
• Mexico's wells to watch
• Pemex opportunity to increase production with EOR
• Latin America's first FLNG facility on route to Argentina
• US imposes sanctions on PdVSA
• Petrobras to kick off four FPSOs in Brazil this year
• Petrobras makes new pre-salt find at Peroba in the core of Brazil’s Santos basin
• Shell sanctions its first Vaca Muerta development
• Transfer-of-rights surplus auction: former government passes baton to incoming one
• New Brazilian government keen to keep 2019 auction schedule on course
• Brazil's oil industry remained busy at year end
• Maurel & Prom acquires Shell's stake in Venezuelan field
• Santos Basin pre-salt provides the IOCs basis for strong growth
• Total lands another slice in the Lapa pre-salt field in Brazil
• QP takes a stake on Eni's Amoca
• YPF and PETRONAS sanction US$2.3 billion shale development
• Mexico oil auctions put off until 2021
• DEA to acquire PE-backed Mexico Sierra Oil & Gas
• Brazilian player 3R and Petrobras in U$450 million asset sale deal for mature onshore fields
• ExxonMobil's 10 th discovery in Guyana increases Stabroek's resources to 5 bnboe
• Mexico's new president takes office
• Perenco acquires shallow-water Campos basin fields for US$370 million from Petrobras
• Trinidad launches shallow water bid round
• YPF announces aggressive new shale targets
• Exploring shale in Colombia – navigating a bumpy road
• Setbacks for Pemex's production
• Brazil pre-salt licensing plans extend until 2021
• Petrobras advances net debt reduction
• The development plan for the Entorno de Sapinhoá pre-salt area makes it closer to an upside potential
• PetroRio continues to grow through M&A deals of producing assets
• Caño Limón-Coveñas pipeline attacks lead to over 85% idle capacity
• Petrobras makes progress on Marlim fields divestment
• Brazil's far-right Jair Bolsonaro (PSL) favored to win electoral runoff
• Ecopetrol flops in its 1million b/d target but the recovery could be promising
• Tullow Oil secures new acreage in Suriname
• Brazil's PSC Round 5 – The last opportunity for IOCs to access coveted pre-salt acreage?
• Key themes from Rio Oil & Gas 2018
  • Market expectations for 2019
  • Potential beyond the pre-salt
  • Digitalization and energy transition
• Discoveries hold the key to AMLO's ambitious targets
• Argentina shale industry responds to macroeconomic instability
• Venezuela takes steps to remedy production fall
• In Ecuador, a new beginning launched with PSC bid round
• The Equatorial Margin – searching for the next Liza
• Venezuela and Trinidad finalise the Dragon gas deal
• Environmental laws could halve light oil production in Peru
• Brazil's mature Campos basin oil fields: decommission or redevelop?
• What AMLO’s energy policy will mean for Mexico’s upstream sector
• CNPE raises profit share rates for two blocks offered in Brazil's PSC Round 5
• 2018 local content improvements unlock investment in 23 FPSOs and up to 15 bnbbl by 2027
• QGEP turns into the second largest producer in Brazil after Petrobras and Majors
• Will open acreage help to boost Brazil`s onshore sector?
• Perenco enters Mexico through Petrofac M&A
• Polvo revitalization project in Brazil`s Campos basin is half waythrough
• Shell to drill its first well under a profit-share contract in Brazil
• Karoon advances Santos basin farm-in discussion and negotiates Peregrino entry
• Parex Resources considers strategic options, including sale of core assets
• Mexico readies for AMLO's incoming administration
• PGN made a new gas discovery in the Parnaíba basin and requested local content reduction
• SBM cleared to participate in Petrobras FPSO tenders
• Brazil`snew pre-salt map after the 2017 and 2018 bid rounds
• Trinidad turning a corner - notes from the field
• Argentina's gas market could be oversupplied by early 2019
• Petrobras declares the Entorno de Sapinhoá pre-salt block commercial
• Equinor announced new oil finding at BM-S-8 in the in the core of Santos pre-salt in Brazil
• Petrobras may seek more advantageous strategy for contracting its next pre-salt FPSOs
• Brazil´s open acreage licensing starts with a reduced number of blocks
• Mexico’s government makes a left turn – what’s in store for the Energy Reform?
• Right-wing candidate Ivan Duque wins in Colombia – government's upstream policy to remain largely the same
• Bidding schedule in Brazil proceeds with PSC Round 5
• Nine months after delivery, Tartaruga Verde's FPSO finally starts production in offshore Brazil
• Insights from Argentina research trip
• ExxonMobil’s latest Guyana discovery pushes recoverable resources above 4 billion boe
• Another interruption in Peru’s NorPeruano pipeline has ramifications for Block 192
• Proppant train and gas pipeline mark key advancements for Vaca Muerta
• The first Libra well reached over 50,000 boe/d after five months producing
• Four takeaways from Brazil`s pre-salt Round 4
• Total forges ahead with plans to drill in Foz do Amazonas basin despite more permit delays
• Karoon receives approval for commercial development of its Brazilian Echidna-Kangaroo discoveries and requests local content reduction
• Pemex onshore JVs: unlocking reserves in mature fields
• Another Energy Reform milestone – Mexico's first upstream M&A deal
• Venezuelan oil production after the election: performance and imminent risks
• Petrobras Q1 results: upstream in focus
• Petrobras restores its dividend
• Brazil`s PSC Round 5 will offer an extra chance for operators to acquire prospective presalt blocks
• Heavy competition in Brazil`s PSC Round 4 may drive profit shares bids up
• Venezuela: switch to low case supply outlook as production declines accelerate
• Pan Amercian Energy gets approval to develop Hokchi
• CNOOC gets green light to drill Perdido prospects
• Brazilian government eases local content for existing contracts
• ENAP Sipetrol and YPF complete expansion work in Area Magallanes
• The pre-salt Saturno block had been removed from Brazil`s PSC Round 4 and may be offered in a new auction together with the two concession blocks removed from Round 15
• Brazil explores offering more accessto the pre-salt
• Petrobras starts divestment process in Tartaruga Verde, Espadarte and Baúna fields
• Brazil's Round 15 awards roughly half of offshore blocks
• Explorers focus on Salinas Sureste
• The first of seven FPSOs to come onstream this year in Brazil has arrived on location and should start production in the first half of 2018
• Pre-Sal Petroleo SA (PPSA) sells first cargo of government profit oil in Brazil
• Mexico launches first shale round
• YPF expects shale to drive production growth this year
• Brazil offers up big pre-salt opportunities at high prices
• ONGC Videsh and Geopark partner up in Colombia
• Trinidad's state Petrotrin to be split into four entities
• ExxonMobil's Pacora well adds to the string of success in Guyana
• Pemex's Q4 results show progress, but highlight the scale of the challenge
• Vista Oil & Gas builds more Vaca Muerta exposure in US$340 million deal
• Perdido exploration forges ahead
• Mexico's Energy Reform in an election year
• Total enters the Guyana Basin
• Colombia's Sinu-San Jacinto round delayed
• Brazil offers two highly anticipated licensing rounds
• Mexico's Round Two finishes on a high note
• Mexico charges ahead with latest onshore bid round: 3.2
• Newly-formed Vista Oil & Gas splashes into Argentina
• Peru: Tullow's next exploration play
• ExxonMobil's Ranger proves new play in Guyana

Tables and charts

This report includes 101 images and tables including:

• 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

What's included

This report contains:

• Latin America upstream in brief

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• Latin America upstream in brief

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• Licensing_Activity_2019_10_October.pdf

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