Page 11 - LatAmOil Week 39 2022

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