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Regional News: South America

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BW Offshore Gives Up Polvo Field Stake
Monday, April 14, 2014 BW Offshore chooses to terminate letter of intent that would have allowed it to acquire 30 percent of the Polvo field, offshore Brazil.

Chevron, YPF Boost Spending To Develop Argentine Shale
Thursday, April 10, 2014 Chevron and YPF say they would spend an additional $1.6 billion to continue developing Argentina's Vaca Muerta shale formation.

Floatec Installs P-61 TLWP in Papa Terra Field in the Campos Basin
Thursday, April 10, 2014 Floatec installs the P-61 tension leg wellhead platform in the Papa Terra field in the Campos Basin offshore Brazil.

Brazil's Odebrecht, Braskem to Operate US Petrochemical Project
Thursday, April 10, 2014 Brazil's Braskem and Odebrecht play leading roles in upcoming petrochemical hubs in West Virginia and Mexico.

Aker Wins Subsea Manifold Deal with Petrobras
Wednesday, April 09, 2014 Aker Solutions wins a $300 million-plus contract with Petrobras to supply subsea manifolds designed to boost oil recovery from deep-water fields offshore Brazil.


First Oil Flows from 7-SPH-04-SPS Well in Sapinhoa Field in Santos Basin
Monday, April 07, 2014 Petrobras reports production commenced at the 7-SPH-04-SPS well in Sapinhoa field in Santos Basin pre-salt region, offshore Brazil.

Thai PTTEP Signs Petroleum Exploration Deal with Brazil's BG
Friday, April 04, 2014 PTTEP signs an agreement with BG E&P Brasil for a 25-percent stake in four deep-water blocks in Brasil.

Petrobras Setbacks Threaten 2014 Oil Production Targets
Friday, April 04, 2014 Petrobras suffers another setback in its effort to boost oil output after a steel pipe drops into the Atlantic Ocean.

Chevron Brazil Faces Criminal Oil-Spill Charges, Reinstated on Appeal
Friday, April 04, 2014 Brazilian judges order a criminal prosecution of Chevron Corp. over a November 2011 oil spill.

Brazil's Oil, Gas Output Rises In February, New Fields Online
Thursday, April 03, 2014 Brazilian output of oil and natural gas rose in February as new fields came online, ANP says.

Spain's Repsol Starts Gas Production At Kinteroni field In Peru
Monday, March 31, 2014 Repsol starts gas production at the Kinteroni field in Peru, one of 10 main projects in its 2012-2016 strategic plan.

Petrobras Finds No Evidence Of Bribes In SBM Offshore Probe
Monday, March 31, 2014 Petrobras says an internal investigation of alleged corruption by SBM Offshore NV found no evidence of bribes paid to Petrobras employees.

Statoil Gets Nod To Take Vale's Stake In Brazil Blocks
Friday, March 28, 2014 Brazil approves Statoil's acquisition of a stake in an offshore oil concession from Vale.

Argentine Senate OKs Plan To Pay Repsol For 2012 YPF Takeover
Thursday, March 27, 2014 Argentina's Senate approves a government proposal to pay Repsol $5B in bonds to compensate the Spanish oil major for the nationalization of its majority stake in energy company YPF two years ago.

Ministry: Brazil To Hold Next Oil-Rights Auction In 2015
Tuesday, March 25, 2014 Brazil expects to hold one oil-rights auction by the middle of 2015, Marco Antonio Martins Almeida, the petroleum secretary of Brazil's energy ministry, says.

Weatherford Says Cutting Back Venezuela Operations
Monday, March 24, 2014 Weatherford says it is reducing operations in Venezuela and expects its Russian business to grow this year.

McDermott to Supply Vessel for Umbilical, Pipeline Work for Petrobras
Friday, March 21, 2014 McDermott inks agreement to supply Petrobras its subsea Lay Vessel North Ocean 105 for umbilical and pipe installation offshore Brazil.

CEO: Subsea 7's Guara-Lula on Schedule but More Difficulties Possible
Thursday, March 20, 2014 Subsea 7's troubled $1 billion ultra-deep Guara-Lula project in Brazil is still on track to finish offshore work this year, although there may be more difficulties with the project.

Rockhopper Confirms Board Changes
Thursday, March 20, 2014 Falklands explorer Rockhopper Exploration confirms non-executive director changes.