Exploration News for South America


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Peru President Cancels London-Based Tullow's Offshore Oil Contracts
Wednesday, May 23, 2018 The government of Peruvian President Martin Vizcarra cancels five offshore oil contracts.

Echo Energy Announces Gas Discovery Onshore Argentina
Friday, May 18, 2018 Echo Energy plc announces a gas discovery at the ELM-1004 exploration well, which is located at the company's Fracción C asset onshore Argentina.

Argentina Offshore Auction Attracts Interest From Oil Producers
Wednesday, May 09, 2018 International oil firms have shown interest in Argentina's auction this year of offshore blocks for exploration and production.

Brazil Energy Council Proposes Sept. 28 For Fifth Pre-Salt Oil Auction
Friday, May 04, 2018 CNPE has proposed Sept. 28 for a fifth auction of blocks in Brazil's choice pre-salt offshore oil play.

Rystad Energy: 100 Offshore Projects to be Sanctioned in 2018
Thursday, May 03, 2018 Oil market 'tailwind' likely to spark 100 offshore project sanctions in 2018.

Brazil's Upcoming Pre-Salt Oil Round Attracts Record Interest
Tuesday, April 24, 2018 A record 16 companies have said they will take part in Brazil's scheduled June auction for the right to explore offshore oil blocks in the country's high-potential pre-salt area.

Exxon Leads Oil Majors In Aggressive Offshore Brazil Bids
Thursday, March 29, 2018 ExxonMobil roars into Brazil's prolific offshore oil fields again, clinching eight blocks.

ExxonMobil, Hess Strike Lucky No. 7 Offshore Guyana
Wednesday, February 28, 2018 Latest discovery to help propel offshore Guyana production past half a million barrels per day mark.

Brazil Regulator Approves Bidders For Oil Auction In March
Wednesday, February 21, 2018 ANP approves the participation of 14 companies in an oil round to be held on March 29.

Total To Sell 25% Stake In S. African Block To Qatar Petroleum
Monday, February 05, 2018 Qatar Petroleum signs an agreement with Total to acquire a 25% stake.

CEO: Petrobras Making 'Interesting Discoveries' In Campos Basin
Wednesday, January 31, 2018 Brazil's state-controlled oil company Petroleo Brasileiro SA is making 'interesting discoveries' in blocks in the Campos basin.

Exploration to Increase in 2018 but Investment Constraints Remain
Wednesday, January 17, 2018 Exploration activity will increase in 2018, but market uncertainty and the need to manage debt levels will remain key constraints to investment.

Global Exploration Sector May Soon Return to Profit
Thursday, January 04, 2018 There are early signs that the global exploration sector may soon return to profit.

Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects
Thursday, December 14, 2017 ExxonMobil and Petrobras form an alliance to develop energy projects around the world.

Statoil Secures Onshore Argentina Exploration License
Thursday, November 30, 2017 Statoil ASA has been awarded the Bajo del Toro Este exploration license as operator in the Neuquen basin.

Guyana-Suriname Basin Emerges as a Hotbed of Oil, Gas Exploration
Friday, November 17, 2017 Oil exploration in the Guyana-Suriname basin has stepped up following ExxonMobil's major discovery there.

Shell Wins Three Oil Blocks In Brazil's Deepwater
Friday, October 27, 2017 Shell won half the blocks awarded in Brazil's deepwater oil auction.

Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017 The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.

Argentina Plans Auction for Offshore Oil Exploration Next Year
Thursday, October 05, 2017 Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said.

Brazil Regulator Allows Petrobras To Source Libra Rig Hull From Abroad
Wednesday, October 04, 2017 ANP approves a request by the consortium exploring the potentially oil-rich Libra area.

Total Makes Foray Into Exxon's Exploration Hotbed Offshore Guyana
Tuesday, September 26, 2017 Total has agreed to pay $1 million for an option to buy a 25% stake in an oil exploration block offshore Guyana.

Fifteen Oil Majors Interested In Brazil's Round 3 Pre-Salt Auction
Monday, September 11, 2017 Fifteen companies have pre-registered for Brazil's third auction of oil exploration rights in the pre-salt area.

Brazil Regulator Rejects Total Study On Drilling At Amazon River Basin
Tuesday, August 29, 2017 Brazil's environmental regulator Ibama says it has rejected Total's environmental study on drilling in the Foz do Amazonas basin.

Statoil, YPF To Explore Shale Oil, Gas In Argentina
Friday, August 25, 2017 Statoil signs a deal with YPF to jointly explore for onshore shale oil and gas resources in the Vaca Muerta formation.

Report: Petrobras, Brazil Dispute Transfer Of Rights Worth $30B
Friday, August 18, 2017 Brazil's government and Petrobras are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion.

No-Name US Oil Driller Gets Shot at World's Top Reserves
Wednesday, August 09, 2017 'It's very unorthodox to see a small player like Horizontal Well Drillers pop up on a project this size,' said Luke Lemoine, an energy analyst at Capital One Securities Inc.

Brazil Publishes Contract Model For 14th Round Oil-Rights Auction
Wednesday, July 19, 2017 ANP published the model contract for its 14th round auction of oil and natural gas exploration rights, scheduled for Sept. 27.

Brazil Mulls Easing Local Content Rules in Older Oil Contracts
Tuesday, July 18, 2017 Many key crude projects have been put on ice in Brazil due in part to steep costs stemming from tough local content rules.

Total, BP Unit, YPF Boost Investment in Argentina's Vaca Muerta
Tuesday, July 18, 2017 The investment is the largest specific project announcement since March in Vaca Muerta, one of the world's largest shale formations.

Mexico Expects Four More Oil Auctions Before By End Of 2018
Friday, July 07, 2017 Mexico expects to launch 4 more oil and gas auctions before the current president's term concludes in November 2018.

Argentina's YPF Says Technology Lowering Its Shale Costs
Friday, June 23, 2017 Loma Campana is the first productive field in Argentina's Belgium-sized Vaca Muerta shale formation.

ExxonMobil To Proceed With Development Of Liza Field Offshore Guyana
Friday, June 16, 2017 ExxonMobil says it will proceed with the development of one of the largest oil discoveries of the past decade, the Liza oil field.

Repsol Uncovers Largest Volume of Gas in 5 Years
Tuesday, June 06, 2017 Repsol uncovers its largest volume of gas in 5 years offshore Trinidad and Tobago.