Rio Oil & Gas 2010 – Breaking Records and Growing Stronger
The 15th edition of the Rio Oil & Gas 2010 conference and convention broke all records of public and participants and is being considered the biggest and best edition ever. While it can be said that O&G was the main theme of the event, bio-fuels and the maritime industry also had a strong presence. The theme for this 15 edition of the Rio Oil & Gas was “From Petroleum to Bio-fuels: Integrating Knowledge and Increasing the Limits”. The numbers are really impressive, from September 13, when the event started, around 46 thousand participants from 51 countries passed through the 5 pavilions and 2 massive tents arrayed in the 37,000 m² of Riocentro convention center in Rio de Janeiro. There were over 1,700 exhibitors and 740 technical papers presented by researchers from 28 countries.
Brazil’s National Operator, Petrobras has been experimenting with advanced Water-Alternating-Gas injection in a number of offshore plays and recently at the Rio O&G 2014, Petrobras’ Pre-salt manager confirmed that the super-major will be using the technology at most, if not all of its pre-salt plays. The WAG injection process aims to recover more oil from a reservoir and also to recover oil more efficiently. The technology was originally intended to improve sweep efficiency during gas flooding, with intermittent slugs of water and gas designed by and large to follow the same route through the reservoir. Variants include injecting gas as a supplement to water or vice versa, primarily to reach other parts of the reservoir.
Naturally-Occurring Radioactive Materials in the O&G industry
Nuvia is one of the leading provider of Naturally Occurring Radioactive Material (NORM) management services in the UK. According to the U.S. Geologists have recognized their presence since the early 1930s and use their presence as a method for finding petroleum systems. Much of the petroleum in the earth's crust was created at the site of ancients seas by the decay of sea life. As a result, petroleum deposits often occur in aquifers containing brine (salt water). Radionuclides, along with other minerals that are dissolved in the brine, precipitate (separate and settle) out forming various wastes at the surface, such as mineneral scales inside drilling and production pipe, sludges, contaminated equipment or components and produced waters.
Oil Rig Ballast Control System Accidents
Ballast control systems are a vital part of semi-submersible oil platforms. The ballast control system is made up of a network of pipes, valves, pumps, and tanks, which work as a liquid control system to keep the vessel at an even keel. Offshore drilling is an extremely risky undertaking, which is susceptible to accidents, which may cause human casualties and environmental disasters. One of the key systems necessary to keep oil rigs afloat, is the effective design of the user interface for the ballast control system, which significantly contributes to overall safety of a rig’s crew and the environment. The threat of disaster is the main reason to provide the operators with the most effective ballast control system possible. One such disaster occurred in 2001 aboard Petrobras’ P36 oil rig.
O&G reserves in the South China Sea: Tempers Flaring
Geopolitical location, an abundance of fish and huge O&G reservoirs make the South China Sea (SCS) particularly attractive to the countries that all lay claim to parts of it, such as China, Taiwan, the Philippines, Malaysia, Brunei, Vietnam, Indonesia, Singapore, Thailand and Cambodia. While the Chinese National Offshore Oil Company (CNOOC) estimates the SCS holds around 125 billion barrels of oil and 500 trillion cubic feet of natural gas in uncorked reserves, the U.S. Energy Information Administration (EIA) estimates the SCS contains only approximately 11 billion barrels of oil and 190 trillion cubic feet of natural gas in proven and probable reserves, although the EIA admits this figure could increase pending geological surveys of peripheral locations.
O&G Mergers and Acquisitions on the rise in Brazil
According to data from KPMG consulting there were 22 merger and acquisition operations in the market during the first 6 months of 2013, 4 times higher than in the first semester of 2012. This is mostly due to the 11th round of bidding that took place in April sponsored by the ANP (National Petroleum Agency). According to a KPMG executive, since the O&G sector had not had any bidding rounds for 5 years, a score of new business opportunities arose that attracted many foreign investors. Of these 22 operations, 10 were buy-outs, where foreign companies bought Brazilian companies in order to enter the market. Another fact that relates to…
Rio Oil&Gas 2012 – Great Outlook for New Business
A major opportunity for new business and new joint ventures was the prime result of the 2012 edition of the Rio O&G. Brazil’s National Petroleum Organization (Onip) believes the event may have been a catalyst for R$ 152,8 million (US$76,4 million) in new business for the next twelve months. A study made by Onip with companies present and the Rio O&G 2012 showed that 84% of these companies expected to undertake some for of new business opportunities in the near future. A total of 13 foreign and 17 local O&G companies negotiated to form joint ventures in the industry, of these 13 expect to close a deal on new joint ventures in the near future. These include local companies and companies from Canada, U.S, England, Argentina, Italy and France.
New Pre-salt Port Worries Environmentalists
The Ponta Negra Terminal (TPN) to be built at the south side of Jaconé Beach at Ponta Negra Point is to be one of the biggest ports in the country. DTA Engineering, responsible for the project, unofficially called the Pre-salt port and with an investment forecast of $5,4 billion in an area of 557,2 thousand square meters, is expected to link oil & gas pipelines from the Pre-salt plays to the Petrochemical complex of the state of Rio de Janeiro (Comperj), which is located in the nearby city of Itaborai. The project includes a port, a ship and rig maintenance shipyard and a refinery. Authorities consider the location ideal due to the fact that the point has a natural depth of 30 meters.
Virtual Shipyards in Brazil – Still a long way to go to supply the demand for ships from the O&G Industry
Most of the new shipyards to be built in Brazil are still on the drawing board. The exceptions are the Inhaúma yard, which was taken over by Petrobras and is being renovated as a ship repair yard, and the OSX shipyard which will be located within the Açu port complex in the northern part of the state of Rio de Janeiro. As both the port and the shipyard are owned by the EBX group, which also owns OGX OIL & GAS, they have guaranteed orders and have already received a partial environmental license and construction has already begun. The orders are guaranteed by the demand for ships from OGX, so they do not depend directly on orders from Petrobras.
OGX Keeps Up its Drilling Effort in 2011
After a nearly perfect drilling campaign on various fronts in 2010, OGX start 2011 with new discoveries in the Campos Basin. Although there was much skepticism at the start of OGX´s creation in 2007, after last year´s performance, the new Brazilian operator, which was created by Brazilian businessman and investor Eike Batista adding to the portfolio of his EBX Group can now easily be considered as a good investment, especially for those who bought in early. Eike´s strategy to hire and partner with Petrobras´s extraordinary geologist and executive Paulo Mendonça was vital not only to gain market value as to bring in deep knowledge of where do drill and how to plan the E&P campaign. It´s important to not that Petrobras´s exploratory success rate more than doubled after Mr.
The New World Order, Like it or Not
According to Petrobras and many other players involved in the O&G market, Rio de Janeiro is the new oil capital of the world.Now that actually may come to be, but there is still a ways to go. As it is, we are all happy campers down here. It is not hard to tell that the simple possibility of this happening is blowing minds and aggravating some players, especially in Houston. The fact is that what goes up must eventually come down and that´s just the way it is. I must admit that for a Brazilian like me, a middle class wanna be, the numbers are quite thrilling. However, there is no running from the fact that the challenges are many. You can have all the oil in the world…
OGX Strikes Oil again at the Campos Basin and Discloses a Major Gas Discovery at the Onshore Parnaiba Basin.
OGX estimates that the total Parnaiba Basin natural gas potential at 15 trillion cubic feet. This discovery opens a new exploratory frontier in an onshore basin, the first in two decades. At the Campos Basin, OGX-18 well reports indication of hydrocarbons, adding to the excellent results of their ongoing exploratory campaign.OGX Petróleo e Gás announced that, through its subsidiary OGX Maranhão, has identified presence of gas in the Devonian section of well 1‐OGX‐16‐MA, in the block PN‐T‐68, in the onshore basin of Parnaiba. OGX Maranhão, an entity formed by OGX S.A. (66.6%) and MPX Energia S.A. (33.3%) is the operator and holds a 70% stake in this block, while Petra Energia S.A. holds the remaining 30%.
New National O&G Safety Program for Brazil
A new partnership between ANP (National Petroleum Agency), Ibama (National Environmental Agency) and the Brazilian Navy, plans to upgrade and expand existing E&P safety measures, in order to prevent major oil spills in Brazil. According to Haroldo Lima, Director of ANP, presently Petrobras elaborates the contingency programs for each platform, but now the Brazilian government will launch a nationwide contingency plan led by the navy and involving the regulatory agency and the environmental agency. Although Lima emphasizes that the current safety systems and regulatory systems in place on offshore platforms in Brazil are among the most advanced in the world, he admits there will certainly be upgrades due to the Deepwater Horizon tragedy at the GOM.