Petrobras discovers largest pre-salt oil column of Santos Basin

Petrobras completed the drilling of a well in Sururu field in July and discovered the largest oil column ever found in the Santos Basin pre-salt. According to the director of exploration and production of the company, Solange Guedes, during the drilling was identified an oil column of 530 meters. For comparison purposes, the average of the five pre-salt wells with the largest oil columns is 436 meters.

Petrobras’ production and technology development director, Hugo Repsold Junior, said that three platforms – P-67 (Lula Norte), P-75 (Búzios) and P-69 ( Lula Extremo Sul) – should start production in the third quarter. The P-76, on the other hand, will leave the shipyard in the fourth quarter, towards the field of Búzios.

According to Solange, Petrobras’ production of oil in national fields is in line with the target set for 2018 of 2.1 million barrels per day.

The company’s total oil and gas production in Brazil and abroad in the first half totaled 2.7 million barrels of oil equivalent per day, down 4% from the same period of last year. According to her, the decline reflects the effects of the divestitures in the fields of Lapa, in the pre-salt of the Santos Basin, and Roncador, in the Campos Basin, “but within the plan for the year” he said.

The state-owned company expects strong growth in oil and natural gas production in the fourth quarter of this year. “We expect to increase production in the second half of the year. The expectation is that we will have strong production growth notably in the fourth quarter, “Solange said.

The executive reaffirmed that the company’s total oil and gas production targets are maintained, of 2.7 million barrels of oil equivalent per day, and of oil production in national fields, of 2.1 million barrels per day, for this year. About the estimate for 2019, the company reported that the numbers are being closed in the adjustments of business plan 2019-2023.

Onerous assignment

According to the president of Petrobras, Ivan Monteiro, there is currently no decision of the company regarding the sale of 70% of its stake in the onerous assignment. According to him, this is an option, but there is no decision on the topic. This possibility depends on approval of a bill on the subject in the Senate. “We have to wait for the final result,” he said.

In July, the House of Representatives concluded a vote on the bill allowing Petrobras to transfer up to 70% of the five billion barrels of oil exploration rights to other companies through the so-called onerous assignment agreement. .

The onerous assignment agreement was closed by Petrobras with the Union in 2010 and allowed Petrobras to explore five billion barrels of oil in pre-salt fields in the Santos Basin without a bid. In return, the company paid R$ 74.8 billion.

However, in the following years, oil barrel prices fell sharply due to geopolitical tensions, and caution about the performance of the economy. Therefore, Petrobras claims that it paid the Union a very high value in the 2010 agreement, and now claims to have the right to be reimbursed.

Source: Valor

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