U/W Internet Cable Between Brazil and Africa
The system will connect Luanda in Angola, with Fortaleza in Ceará in northern Brazil and the u/w cable with have a capacity to transmit 40 terabits per second, or 40 trillion bits per second, which will greatly speed up trans-Atlantic media, O&G and general business connections. Eventually an extension of the cable will also reach Santos, on the coast of São Paulo and Miami. The initial project will have an investment of US$160 million, with another US$100 million destined to extra connections. This is the essence of the South Atlantic Cable System (SACS), which cable operator Angola Cables plans to install by 2015 or the beginning of 2016 in the region. According to company president Antonio Nunes, this will be the first u/w cable in the southern hemisphere linking Brazil to Africa.
Cobalt’s Lontra 1 off Angola taps “Global Scale” reserves
Cobalt International Energy recently said the drill stem test results at its Lontra 1 pre-salt well off Angola were "exceptional, with excellent quality reservoirs that are better than we had expected". This may be the first major pre-salt find in WA that matches some of the huge pre-salt plays uncorked in Brazil. Drilled to a depth of 4,195 meters (13,843 feet) and penetrating some 75 meters of net pay, Cobalt said that, "while further appraisal drilling will be required to determine the ultimate size of the Lontra field, it is clear that Lontra is a discovery on a global scale”. Lontra is a pre-salt prospect off Angola in Block 20.
OTC Brasil 2013 – Petrobras Geology & Geophysics Expertise
During the OTC Brasil 2013 there were daily panel session, which covered some interesting themes. On Wednesday, October 30th, the panel session: Perspectives on E&P in the South Atlantic, had as one of its panelists Petrobras’ E&P Director, José Miranda Formigli Filho, known throughout Brazil simply as Formigli. According to Formigli, Petrobras’ knowledge of geology and geophysics (G&G) was vital for the national operator to meet the technological challenges and reach its exploratory success in deepwater pre-salt and post-salt E&P. Formigli estimated that by 2020 the pre-salt production will represent 50% of Petrobras’ output with the potential to reach some 31 billion barrels boe. By 2035, some 39 million barrels per day of new crude oil supply will be needed.
Portuguese Investment in Brazil’s Pre-Salt
Galp Energy, which is Portugal’s major O&G operator, is aiming at increasing its investments in Brazil through acquisition of new block during Petrobras’ pre-salt bidding round next October. Galp is already considered a preferred partner by Petrobras as can be seen by the fact that Galp currently partners Petrobras in four deepwater pre-salt blocks in the Santos Basin, with the biggest blocks being Lula and Cerambi, both large pre-salt plays, which are producing. Earlier this year Galp again partnered Petrobras in acquiring nine blocks in the Parnaíba, Potiguar and Barreirinhas Basin, during the 11th bidding round which mainly encompassed block along Brazil’s Northeast Coast and Equatorial Margin.
New Players in the Brazilian O&G Market - Starfish Oil & Gas
Starfish Oil & Gas is not exactly a new player, since the company was founded in 1999. As the first private national O&G operator in Brazil and classified as a B class operator by ANP (National Petroleum Agency), Starfish has participation in a variety of onshore and offshore blocks in Brazil and in Angola. The company is structured as a closed capital corporation with capital stock of R$ 82.365 million (US$ 46,533 million, at the current exchange rate). The company´s stock is divided in 502.62 thousand common shares, distributed among 80 shareholders in Brazil and abroad. The first opportunities in the O&G market were identified by the company in the group of licenses granted by the National Petroleum Agency (ANP) to Petrobras in the so-called Round Zero, in August of 1998.