Page 15 - LatAmOil Week 24 2022

LatAmOil NEWS IN BRIEF LatAmOil

A substitute for natural gas, diesel or LPG, frontier for the development of oil and, espe-
biomethane has the potential to reduce direct cially, gas production. With this protocol of President Energy
greenhouse gas emissions by more than 90% by intentions, Petrobras hopes to contribute with
replacing fossil fuels. For Raízen, the production the people of Sergipe, so that the state can take announces corporate
of biomethane expands the company’s portfolio advantage of the opportunities provided by the
of renewable solutions, ensuring economy and natural gas market,” said Chief Refining and Nat- and commercial update
sustainability for its customers. “We are one of ural Gas Officer Rodrigo Costa Lima e Silva.
the pioneers in the use of residues from indus- According to Petrobras’ Strategic Plan 2022- AIM-listed President Energy, an international
trial processes to produce renewable energy on a 2026, two platforms are planned for the Sergipe energy company primarily focused in Argentina,
commercial scale, applying the circular economy DeepWaters fields. The project includes the with a diverse portfolio of operated onshore pro-
model in our 35 bioenergy plants. We believe in implementation of a new gas flow system con- ducing and exploration assets, has announced a
the potential of sugarcane to generate numerous necting the two production units to the Sergipe corporate and commercial update
energy solutions and the production of biome- coast, with a capacity of 18mn cubic metres per Highlights: President Argentina credit rat-
thane is an important step towards accelerating day. ing reaffirmed at Investment Grade A -. Further
the energy transition in the country,” explained Petrobras, June 13 2022 Argentine bond issue of $3.585mn at 3.89% p.a.
Ricardo Mussa, CEO of Raízen. interest rate. Success for new well PG 13-1 at
Biomethane is the name given to the renew- Puesto Guardian Concession, Argentina. Argen-
able fuel produced from the purification of bio- PROJECTS & COMPANIES tina new law allowing oil producers to transfer
gas, a process that eliminates the high carbon dollar funds abroad under conditions.
content of the compound and originates a fuel Maersk Drilling secures Update on annual report and accounts, New
similar to natural gas. The biogas is produced Bond Issue: President Argentina has issued a
from residual organic material (vinasse and sug- one-well extension for further tranche of $3.585mn in bonds to the
arcane filter cake) from the process of growing local market to fund further working capital and
and processing sugarcane. Maersk Valiant capital expenditure. The interest rate is 3.89%
“This is a 100% renewable source, with with a 25-month repayment period and an ini-
the potential to reduce carbon emissions and TotalEnergies E&P Suriname, Suriname Branch tial 16 capital repayment month holiday.
increase national energy security. Still in the has exercised an option to add the drilling of one In parallel with the issue, Fix SCR, the
initial phase of studies with Raizen, our goal is additional well in Block 58 offshore Suriname Argentina affiliate of Fitch, the worldwide credit
to identify the best economic opportunities to to the work scope of the drillship Maersk Val- agency, has re-affirmed the credit rating of Pres-
develop this new front of decarbonisation of our iant. The contract extension has an estimated ident Argentina’s bonds at Investment Grade A-.
activities,” concluded Coelho. duration of 100 days, with work expected to Puesto Guardian Concession, Salta, Argen-
“Biomethane has a high potential for decar- commence in August/September 2022 in direct tina, Update: The new well PG13-1 is now suc-
bonisation and the possibility of use in various continuation of the rig’s current work scope. The cessfully in production and currently producing
sectors of the economy. With investments in contract value of the extension is approximately over 200 bpd of oil. The old well PE-8, which has
innovation and technology, we can extract the $24.3mn, including integrated services pro- not flowed oil for many years, has been worked
maximum from sugarcane biomass, increasing vided and a fee for the use of managed pressure over and is also now in production with a much
the sustainable potential of our chain and driv- drilling. One one-well option remains on the more modest 10 bpd of oil, but every little helps.
ing the reduction of CO2 emissions of our part- contract. Realised prices for domestic sale of Pres-
ners,” said Mussa. Maersk Valiant is a high-specification sev- ident’s Salta crude continue to increase with
Petrobras, June 14 2022 enth generation drillship with integrated Man- prices currently $66 per barrel, an increase of
aged Pressure Drilling capability which was 12% from the start of the year.
Petrobras signs protocol delivered in 2013. It is currently operating for that has been issued by the Argentine govern-
New Law: President notes the new decree
TotalEnergies offshore Suriname.
of intentions in the area Maersk Drilling, June 16 2022 ment allowing access for oil and gas companies
to the currency markets in order to transfer US
of natural gas PXGEO awarded OBN dollars abroad under certain conditions, includ-
ing relevant amounts being proportionate to
Petrobras and the Sergipe Government signed project in Brazil incremental production year on year.
today a protocol of intentions to identify busi- Whilst President welcomes any change of
ness opportunities with the use of natural gas, PXGEO has secured a contract with Petrobras law allowing repatriation monies to the UK, the
considering the development by the company of for a 3D ocean bottom node (OBN) survey in Company is considering the full terms and con-
a new frontier in Sergipe Deep Waters. Brazil. The survey is to be acquired in water ditions relating to this new legislation and will
The objective of the protocol is to express the depths to 2200m and is scheduled to commence advise the market in due course if, and/or to the
purpose of prospecting and structuring business in late 2022 with a duration of approximately extent that, the relaxation covered by this new
opportunities, with the supply of natural gas, four months. decree is applicable and can be utilised.
either as raw material or as a source of power PXGEO CEO Duncan Eley stated: “This will Annual Report and Accounts: The announce-
and heat be the third project acquired for Petrobras since ment of the Annual Report and Accounts for
generation. All confidential information or the inception of PXGEO, demonstrating repeat year-end 2021 will be issued before the end of
transmitted data or data to which the parties business for a key client and our commitment to this month together with an update of cur-
have access as a result of the protocol are duly delivering efficient deep water OBN acquisition rent trading with the Annual General Meeting
protected by a confidentiality clause. solutions in Brazil.” expected to take place in July.
“The Sergipe Deep Waters project is a new PXGEO, June 15 2022 President Energy, June 16 2022

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