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South America news Regional update
As we approach the end of the fiscal year, are you ensuring that your company is using EIC to its full extent? Global Digital Supporter is one of our most recently launched opportunities, Clariss e Roch a which allows you to promote your business through one of our LIVE e-vents. This cost-effective package puts your company front and centre, reaching a larger global audience using our GotoWebinar platform and social media channels. If this opportunity is of interest to you, do not hesitate to reach out to us to discuss it further. McDermott will be joining us for a business presentation on 4 March. Their Supply Chain Director Americas, Paulo Fortes, is expected to give attendees an overview of the company’s current contracts and opportunities. McDermott has recently been awarded a US$250m-US$500m EPCI contract by Petrobras for the Sepia field project, covering subsea risers and flowlines for seven wells to a floating production, storage and offloading vessel.
McDermott’s DLV 2000 vessel arrives in Brazil
Those in attendance will be given an insight into this and other projects, and are welcome to engage via our Q&A session. If you need any assistance or advice in the region or for more information about upcoming events, please contact: rio@the-eic.com Clarisse Rocha Head of Americas clarisse.rocha@the-eic.com
Regional news
Brazil’s 17th bidding round to offer 92 blocks
YPF to increase investment in 2021
Brazil’s 17th bidding round for E&P concessions will take place on 7 October 2021, according to the National Petroleum Agency (ANP). The latest round will offer 92 offshore blocks in the Campos, Santos, Pelotas and Potiguar Basins.
In a bid to increase oil and gas production after a 10% drop in 2020, the Argentine national oil company YPF has pledged to boost investment in the country by 73% in 2021. Investment plans, however, depend on the company’s ability to restructure its finances and obtain access to cash.
The 7th round for production sharing agreements (PSAs), originally scheduled for 2020, is also expected to take place this year. The latter is specifically designed for blocks located in the Brazilian pre-salt province, whereas bidding rounds for E&P concessions award blocks located elsewhere in the country.
Argentina’s financial crisis has been an obstacle for companies wishing to access international capital markets, which means that YPF would have to fund its investment target using the company’s own cash flow.
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