Skip to comments.Petrobras gets permit for U.S. deep waters
Posted on 03/23/2011 9:59:17 AM PDT by Lucky9teen
WASHINGTON, March 18 (UPI) -- Washington has given Petrobras America Inc. permission to start oil and gas production in the Gulf of Mexico, a regulator said.
The Bureau of Ocean Energy Management, Regulation and Enforcement gave Petrobras approval to use a floating production storage offloading facility at its Cascade-Chinook project in the Gulf of Mexico.
The approval marks the first time FPSO technology will be used in U.S. waters of the Gulf of Mexico.
The oil and gas project is about 165 miles off the coast of Louisiana in 8,200 feet of water. The FPSO has a production capacity of 80,000 barrels of oil and 16 million cubic feet of natural gas per day.
The BOEMRE approved the production safety system permit and a supplemental deep-water operating plan from Petrobras. The regulatory agency said it was satisfied that operations would be safe from hurricanes and other natural disasters.
"These regulatory approvals pave the way for safe, new production of oil and gas resources in the Gulf of Mexico," BOEMRE Director Michael R. Bromwich said in a statement.
Noble Energy in early March was awarded a BOEMRE permit to drill in the Mississippi Canyon block about 70 miles south of the Louisiana coast.
The permit was for what the BOEMRE described as a bypass well meant to drill around a mechanical problem in the original hole.
Deep-water exploration is under scrutiny following the April oil spill in the Gulf of Mexico. The U.S. government lifted a moratorium on deep-water drilling in October, six months after the Deepwater Horizon oil rig caught fire and sank in the Gulf of Mexico.
(Excerpt) Read more at upi.com ...
Obama has had a hell of a week.
He’s given the GOP enough material to keep a Dem out of office in the W/H for 16 yrs...
Please read tagline....
drill baby drill...but only for brazil...
In our own waters...taking OUR NG....
Perfect precidence for lawsuit to open access for U.S. companies.
Except the administration will ignore the court orders...
It’s a socialist thing...you wouldnt understand...
Cronyism at its best....Barry pays Soros handsomely!
That’s the Chicago way!
Unfortunately I think the answer is “you wish.” ALL of TV loves Obama. Fox even covers for him with O Reilly and Beck making fund of birthers. F TV.
And not one word from any "Republican".
What’s next, permits for foreign oil companies to drill in Texas and Alaska?
Where is Forrest Taft (Steven Seagal) when you need him?
So far the House GOP “leadership” is a BIG JOKE!
How are we in debt. Countries owe us so much money.
This is some criminal.
The FPSO BW Pioneer, constructed in Singapore at the Keppel shipyard, measures 241 m long by 42 m wide.
The FPSO BW Pioneer is moored in 2,600 m of water to a disconnectable turret mooring system that will allow it to disconnect in case of severe weather and later reconnect and continue operations.
Petrobras' Cascade & Chinook inaugurate FPSO production in GOM
BW Pioneer is first of its kind in US, worlds deepest ever
The FPSO BW Pioneer, constructed in Singapore at the Keppel shipyard, measures 241 m (791 ft) long by 42 m (138 ft) wide. It is moored in 2,600 m (853 ft) of water to a disconnectable turret mooring system that will allow it to disconnect in case of severe weather and later reconnect and continue operations.
Petrobras is the operator of both units, with 100% ownership of Cascade and 66.67% of Chinook. Total E&P owns the remaining 33.33% of Chinook. Earlier this year, Petrobras exercised its rights to buy out former Cascade partner Devon Energy Corp., which previously held a 50% stake in the field.
The fields were developed using two subsea wells in Cascade and one subsea well in Chinook, approximately 30 km (18 mi) south of Cascade. Each well was drilled to an approximate depth of 27,000 ft (8,229 m), and based on reservoir performance, Petrobras may expand production to additional subsea wells on each field. Output from Cascade and Chinook is expected to reach 80,000 b/d, and is unlikely to exceed that amount until new drilling is allowed.
You mean like British Petroleum?
They are the largest oil producer in the US.
If only they had the will.
Democrats would use the exact same material to keep republicans out of office for 50 years, maybe more.
Depends on if the GOP is smart/ethical enough to do it. We get another string of Bob Dole types and even this won’t save them.
MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES
Yes, but with all foreign workers.. like Chinese.
Palin might say something, but she would be called a simpleton and air-head by [insert your pundit here].
Heck, it just might give a US company that ever-elusive "standing" to question The Won's bona fides to even be president.
See for yourself:
He sold all of his stake in the second quarter of 2010. Can we give this urban legend a rest now?
There’s plenty of real crap he does without inventing more.
In fact Palin talked about Crony capitalism and the O administration - she did pointed out in one of her facebook about the ties of Obama and BP which the media tried to hide
My goodness....when will be the right time to IMPEACH this traitor??
Do we have to wait until he turns his guns upon the American people? Where is our leadership???
sounds like a 14th Amendment case needs to be filed by our domestic oil companies
Didn’t take long to get THAT permit.
Just so no one thinks this just accidently happen but was in the works for a while. This from 2 1/2 years ago:
Market Watch Feb. 17, 2009 - “Soros, through his Soros Fund Management LLC, reported holding 36.8 million American depositary receipts of the Brazilian oil company known as Petrobras as of Dec. 31 - a holding valued at about $900 million at the time.”
Why is this Petrobras production different than Shell or BP production?
And the unions are mum on Obama’s actions.
But borrowing is.
Do we have to wait until he turns his guns upon the American people? Where is our leadership?
I'll bet that over half the American public is echoing that same question this week. Unfortunately, if Obama is to be removed from office for his many crimes against this country, it'll have to be done by the American people. Congress certainly isn't going to do it, and neither is the Supreme Court.
I honestly don't know what it's going to take for the American people to exert sufficient pressure to make Obozo leave. Even with all he's done to damage this country beyond all recognition, there's no massive movement to call for his resignation or impeachment.
My guess is that, most people have concluded that all they can do is to vote him out next year.
So how much is borrowed from us versus the what we owe others?
Those who are making the Soros connection on this are inventing it, the sale was widely publicized a year ago.
I don’t disagree that Soros and Obama are an unhealthy combo, but it is silly to INVENT things that are easily traced through public records.
The people who are getting a payoff are those that purchase PBR stock going forward, which I have done for my clients this week. If you think this is such a sweetheart deal THEN BUY SOME STOCK in it. Not too tough to do.
See Post #34. This has been in the works for awhile.
Its not a urban legend, it a bogeyman myth, like what parents tell their children to scare them.
But instead of saying "the bogeyman is gonna get you", they say "Soros is gonna get you"
Sigh.....next year cannot come soon enough.
See post 29.
Well also work to strengthen our relationship when it comes to energy. Brazil holds recently discovered oil reserves that could be far larger than ours, and as we seek to increase secure-energy supplies, we look forward to developing a strategic energy partnership. Well also continue our shared leadership in green economic growth and clean energy, including everything from biofuels to renewables such as wind and solar power. And as the host of the 2014 World Cup and 2016 Summer Olympics, Brazil is expected to invest more than $200 billion in upgrading its infrastructure an area where America is primed to be a partner.
Why does your text say 3 months, but your link says it was from August 15, 2008?
Previous post show it was sold after that point.
Suncor (Not Suncore) closed on 12/31 around 35. It is now 45.
At the end of Sept 2010 Conoco sold at 46. It is now 78.
Yeesh! Do you bother vetting anything you read or post?
I am no fan of Soros but 15 YEARS AGO he authored the definitive book on trading, called The Alchemy of Finance. He was Jimmy Rogers partner at the Quantum Fund. His record for trading was established starting in the late 60’s. To think he is all of a sudden making huge fortunes today is ignoring how good a trader he was for a long time.
Long before he became a progressive nut case.
In 1956, Soros moved to New York City, where he worked as an arbitrage trader with F. M. Mayer (195659) and as an analyst with Wertheim & Co. (195963). Throughout this time, Soros developed a philosophy of reflexivity based on the ideas of Karl Popper. Reflexivity, as used by Soros, is the belief that the action of beholding the valuation of any market, by its participants, affects said valuation of the market in a procyclical ‘virtuous or vicious’ circle.
Soros realized, however, that he would not make any money from the concept of reflexivity until he went into investing on his own. He began to investigate how to deal in investments. From 1963 to 1973, he worked at Arnhold and S. Bleichroder, where he attained the position of Vice-President. Soros finally concluded that he was a better investor than he was a philosopher or an executive. In 1967, he persuaded the company to set up First Eagle, an offshore investment fund for him to run; and, in 1969, it founded the Double Eagle hedge fund for him.
In 1973, when investment regulations restricted his ability to run the funds as he wished, he resigned his position and established a private investment company, which evolved into the Quantum Fund. He has stated that his intent was to earn enough money on Wall Street to support himself as an author and philosopher he calculated that $500,000 after five years would be possible and adequate.