Page 18 - LatAmOil Week 30

LatAmOil NEWS IN BRIEF LatAmOil

Project, located offshore Brazil. According to
Offshore Technology and Reuters, the project is
one of the world’s largest ultra-deepwater (6,600
feet or 2,010 metres deep) oil discoveries, con-
taining 7.9-15bn barrels of oil, and is expected
to add up to 1.4mn barrels per day (bpd) of oil
by 2021 with an estimated development cost of
$80bn. The Tube Turns® Ultra-High Pressure
closures are a perfect fit for the project as they
are designed for high-pressure applications up
to 15,000 psi.
Sypris Technologies is a global leader in the
manufacture of custom engineered closures for
high pressure critical applications serving the
oil and gas pipeline infrastructure, hydrocarbon
and petrochemical processing, and utility indus-
try since 1927. Headquartered in Louisville,
Kentucky, the Company’s products are marketed
worldwide.
Sypris, July 28 2020
Annual General Meeting: PetroTal will hold its This resolution also establishes a minimum
annual general and special meeting of share- density of 715 kg per cubic metre, which means INVESTMENT
holders (AGM) on September 9, 2020. Meeting more efficiency, with the possibility of reducing
materials for the AGM will be mailed this week. gasoline consumption per km by 5% on average, Petrobras starts non-
Further AGM details will be provided in subse- in addition to making it more difficult to cheat in
quent announcements. its formulation, combating the use of low-quality binding phase of E&P
Manolo Zuniga, President and Chief Exec- solvents and naphthas in the adulteration of the
utive Officer, commented: “On behalf of Petro- product sold to the consumer. assets in Alagoas
Tal, I would like to thank the 30 person team In the second phase, scheduled for January
that stayed at Bretaña during the shutdown and 2022, minimum octane rating RON 93 will be Petrobras, following up on the release disclosed
ensured all the facilities were properly main- adopted. The company has already anticipated on June 17, 2020, informs the beginning of the
tained, which is reflected by how quickly the the production of gasoline with superior quality non-binding phase regarding the sale of its entire
new 130-person team was able to re-open the oil standards, guaranteeing the consumer a product stake in a set of seven onshore and shallow-wa-
wells, recommence construction support activ- with better performance and efficiency. ter fields (Alagoas Cluster) located in the state
ities and again reach 12,000 bpd of production. Petrobras, July 29 2020 of Alagoas.
Our commitment is to ensure all stakeholders Potential buyers qualified for this phase will
benefit from the Bretaña project, including the receive a descriptive memorandum containing
local communities that support our Company.” SERVICES more detailed information on the referred assets,
PetroTal, July 27 2020 in addition to instructions on the divestment
Sypris wins order process, including guidelines for the preparation
and submission of non-binding proposals.
for gas project in Brazil be informed in due course to the market.
DOWNSTREAM The main subsequent stages of the project will
Petrobras comments on Sypris Technologies, a subsidiary of Sypris The Alagoas Cluster comprises seven pro-
Solutions, announced today that it has recently duction concessions (Anambé, Arapaçu, Cidade
new gasoline received significant orders for its Tube Turns® de São Miguel dos Campos, Furado, Paru, Pilar
branded Ultra-High Pressure and Double Bolt and São Miguel dos Campos), all located in the
Petrobras informs that it is already producing closure product lines. Production will begin state of Alagoas. The Paru field is located in shal-
at all of its refineries and selling to distributors immediately and is expected to be completed low waters, with a water depth of 24 metres. The
gasoline with RON 93 octane rating, which will prior to year-end. Terms of the purchases were other fields are onshore.
only be mandatory in Brazil in 2022, according not disclosed. In 2019, the cluster’s average production was
to the new regulations of the National Agency of Brett Keener, General Manager of Sypris 2,350 bpd of oil and condensate and 856,000
Petroleum, Natural Gas and Biofuels (ANP) in Technologies, commented, “These two projects cubic metres per day of gas, generating a total of
ANP Resolution 807/20. leverage our extensive experience in engineer- 1,010 bpd of NGLs (natural gas liquids).
ANP Resolution 807/20, whose first phase ing high-quality closures for the demanding In addition to the fields and their produc-
will come into force on August 3, 2020, estab- requirements to continually support major tion facilities, the Natural Gas Processing Unit
lishes a minimum octane rating of 92 by the energy projects around the globe. We are proud (UPGN) of Alagoas, whose processing capacity
RON (Research Octane Number) methodology, to be a part of enhancing energy infrastructure is 2mn cubic meters per day, is included in the
already adopted in Europe and more appropriate with these types of important global projects.” transaction, and is responsible for processing
to the new engine technologies being introduced The Tube Turns® Ultra-High Pressure clo- 100% of the cluster gas and generating NGLs.
in Brazil. sures have been chosen for the Libra Oil Field Petrobras, July 29 2020

P18 www. NEWSBASE .com Week 30 30•July•2020