BP has identified hydrocarbons in an exploration well at the deepwater Tupinambá block in Brazil’s Santos Basin, where Shell’s 50% working interest remains subject to regulatory approval. The company informed Brazil’s National Agency for Petroleum, Natural Gas and Biofuels (ANP) of the hydrocarbon presence in well 1-BP-14-SPS, located 275 kilometers off the Brazilian coast in […]
Petrobras increased its oil and natural gas production 14.1% year over year to a record 3.34 MMboed in the second quarter of 2026, driven by the continued ramp-up of major pre-salt developments in the Santos basin and improved operational efficiency across its offshore portfolio. Production also rose 3.4% from the first quarter as the company benefited […]
Abu Dhabi National Oil Co. has made an $18.7 billion offer for Australian fossil fuel producer Santos Ltd., in one of the most audacious overseas moves yet by the Middle Eastern company as it seeks to expand its production of liquefied natural gas.
ADNOC’s investment arm XRG, in consortium with Abu Dhabi Development Holding Company (ADQ) and investment firm Carlyle, has submitted a final non-binding indicative proposal to acquire 100% of Australian independent E&P player Santos, the companies announced on Monday.
Launched in August 2021, this new phase called “Mero-4” will connect 12 wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and Offloading) unit, with a production capacity of 180,000 barrels of oil per day (bpd). This project has been designed to minimize greenhouse gas emissions, with reinjection of the associated gas into the reservoir and zero routine flaring.