Very usefull links


News links




Dow Jones

Oil price



Views and News





Petrobras seeks partner to revive older oil wells




By Alexandra Alper

Petroleumworld 09 06 2018

Brazil's state-controlled oil company Petroleo Brasileiro SA has confirmed that it began searching in May for an oil services company to partner with it in an onshore production-sharing deal.

The project, aimed at boosting oil output in the mature onshore cluster of Canto do Amaro in the Potiguar Basin, was first reported by Reuters in June.

“This is the first time the company is using this business model as a way to increase oil recovery in mature fields,” Petrobras, as the company is known, said in a statement to Reuters late on Thursday.

Based on the results from the project, the company will decide whether to apply this model in other areas, Petrobras said.

The company said the winning company would be responsible for investment and operation and maintenance costs for the wells in the Canto do Amaro cluster. The tender includes a 15-year contract, Petrobras confirmed, adding that it would remain the operator.

A deal would represent a novel way for the debt-laden oil company to boost output from mature fields without losing control or risking capital.

Such a deal would also allow oil services companies to use expensive equipment idled for years during the downturn in Brazil's oil industry. The sector was hammered by low oil prices and a massive corruption scandal at Petrobras.

Reuters previously reported that Schlumberger and Halliburton Co were both preparing bids for the project. Both companies declined to comment when contacted on Friday.


Twitter: @petroleumworld1

Hit your target - Advertise with Us

Story by Alexandra Alper; Additional reporting by Liz Hampton in Houston Editing by Frances Kerry from Reuters 09 06 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1

November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter









Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.