Page 11 - LatAmOil Week 39 2022
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LatAmOil                                         GUYANA                                            LatAmOil



                         In the meantime, Guyana’s government has yet   though, they have pushed the possible target
                         to make a final decision on whether it intends to   date back to late 2022.
                         dispose of the unassigned offshore blocks via a   They have also said that the sites included in
                         bidding contest or make the sites the property   the bidding contest will be subject to the terms of
                         of a national oil company (NOC) and then find   the new production-sharing agreement (PSA)
                         a strategic foreign partner to help manage the   that the Natural Resources Ministry is drawing
                         new entity.                          up in an attempt to ensure maximum benefits
                           Officials in Georgetown had said previously   for the country. (These new PSA terms will
                         that if the first option were chosen, the auc-  not be applied retroactively to ExxonMobil’s
                         tions might begin in September. More recently,   Stabroek deal, though.) ™




                                                        BRAZIL
       Petrobras preparing new business plan





                         BRAZIL’S national oil company (NOC) Petro-  some of its budget to investments in decarbon-
                         bras will unveil a new strategic business develop-  isation and renewable energy projects. He did
                         ment plan in November, according to Salvador   not reveal whether any particular schemes were
                         Dahan, the state-owned firm’s executive director   under consideration.
                         of governance.                         Dahan did not say whether Petrobras had
                           Speaking at the Rio Oil & Gas 2022 confer-  drawn up any specific budgets or timelines for
                         ence on September 28, Dahan indicated that   the new business development plan. According
                         the plan would be “consistent” with Petrobras’   to a report from Reuters, the company released
                         ongoing efforts to concentrate on major off-  a five-year investment programme in 2021 that
                         shore crude oil and natural gas projects in the   called for spending $68bn over the following five
                         pre-salt region of Brazil’s offshore zone. The   years, representing an increase of nearly 25% on
                         NOC intends to continue with “what it has been   the previous five-year plan.
                         doing” with respect to exploration and produc-
                         tion of pre-salt fields, he said.    Cabinet minister’s outlook
                           It will also work to establish the infrastruc-  The Petrobras executive was speaking two days
                         ture needed to support development, he added.  after Brazil’s Mines and Energy Minister Adolfo
                           “The plan continues to address our focus   Sachsida said at the same conference that the
                         in Brazil and with development in the pre-salt,   country was on track to see oil production grow
                         with a lot of investment in exploration and pro-  by 70% before the end of the current decade.
                         duction, but also in the downstream [logistics   Brazil is now extracting about 2.82mn barrels
                         segments],” he said, without offering any details.  per day, so a 70% rise would put yields at 4.8mn
                           Moreover, he said, the NOC will devote   bpd by 2030.































                                        Petrobras is optimistic about the potential of the northern equatorial frontier (Image: TGS)



       Week 39   28•September•2022              www. NEWSBASE .com                                             P11
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