PETROBRÁS RECEIVES APPROVAL FOR ITAPU DEVELOPMENT PLAN

May 29, 2017

The Itapu field, part of the Onerous Cession and located in the Santos Basin pre-salt, will receive an FPSO with the capacity to produce 120,000 barrels of oil per day. Petrobras, which operates the area, has received approval from the ANP for the field development plan.

The FPSO is expected to be contracted between 2018 and 2019 to start production in 2021 in Itapu, where Petrobras currently operates a smaller FPSO, BW Cidade de São Vicente, as part of the Long-Term Test . The average production today revolves around 28 thousand barrels per day.

In a water depth of 2,000 meters, the field has an in situ oil volume of 1.3 billion barrels of oil, and the development plan foresees the connection with 5 producing wells, two gas injectors and two injectors of water, and is expected to produce until 2050.