Offshore Activity

ANP CANCELS NEW REVIEW OF THE PAPA-TERRA DEVELOPMENT PLAN

May 19th, 2017

The National Petroleum Agency (ANP) has released Petrobras to present a new revision of the Papa-Terra Field Development Plan in the Campos Basin.

Initially, the state company had until July 31 to present the review, which should encompass the updating of the geological and simulation models, as well as the presentation of new estimates of production and reserves from the updated modeling. The agency has determined that Petrobras will begin the pilot polymer injection project in the field by December 31 of this year.

Papa-Terra is located about 110 km from the municipality of Cabo Frio in the southern state of Rio de Janeiro, in the southern part of the Campos Basin. Its area is equivalent to 182,786 km², distributed in a water depths that varies between 400 and 1,600 m. Petrobrás operates the area with 62.5% participation, in partnership with Chevron (37.5%).

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