Petrobras has issued a letter of intent to Modec and the Schahin Group for the supply, charter, and operation of a floating production, storage, and offloading vessel (FPSO) for the Lula-Iracema area of block BM-S-11 offshore Brazil.
ANADARKO Petroleum has made a major "pre-salt" oil discovery on the Wahoo prospect in Brazil's prolific Campos Basin with its 1-APL-1-ESS well drilled on block BM-C-30 in some 1,417m (4,650ft) water depth. Preliminary results, based on wireline logs, indicate at least 60m (195ft) of net pay with similar characteristics to the nearby Jubarte 1-ESS-103A well.
As I scribble this month's column, West Texas Intermediate is trading a few cents short of $115 a barrel, Brent is only a couple of bucks below and the oil price has become a hot topic. Big Oil is in the headlines for something else, too: the largest oil discovery made in decades and, before that, at least two finds that may turn out to be super-giant fields.
