April 3, 2019
Petrobras is licensing a campaign to acquire 4D seismic data, with nodes, in the Jubarte field, in the Parque das Baleias, in the Espirito Santo part of the Campos Basin. The campaign will last 161 days.
4D seismic technology is being used for continuous seismic monitoring of oil reservoirs. A pioneering 4D permanent monitoring project developed by Petrobras in the Jubarte field itself, with reservoirs in both the post-salt and the pre-salt off the coast of Espírito Santo. It was in Jubarte where the pre-salt had its first commercial production.
Petrobras also licensed a 4D campaign to be deployed in the Roncador and Albacora fields, in the eastern part of the Campos Basin, using the stream technology Narrow Azimuth, with the objective of acquiring proprietary seismic data as of February 2018.
The board of the National Petroleum Agency (ANP) recently approved the draft of the agreement that ends the dispute with Petrobras for special participation in the Parque das Baleias area, with the unification of all fields, which are now Novo Campo de Jubarte . Petrobras will pay R $ 3.6 billion for the agreement, being R $ 1.5 billion in sight and the remaining installments in 42 months.
See the main points of the agreement:
1) The new outline of the Jubarte Field – which will be called “Novo Campo de Jubarte ” – will be formed by the areas of Jubarte, Baleia Azul, Baleia Franca, parts of Cachalote and Pirambu, in addition to small plots due to local adjustments , of Caxaréu and Mangangá;
2) The parties reached an agreement on the base date of payment of special participation (PE) differences on the production of the new Jubarte and other development areas of Parque das Baleias as the fourth quarter of 2016;
3) In the light of the new investments to be made, the ANP approved the extension of the production phase of Novo Campo de Jubarte for 27 years, to 2056 (initially, it would close in 2029), subject to the signing of said agreement; and
4) Differences in special participation for payment purposes are approximately R $ 3.6 billion, with a cash payment of R $ 1.5 billion, with the remainder being paid in 42 months. And for the next 20 years, it is estimated (based on the expected production curve, current oil price and exchange rates, investments and operating costs) for a forecast of approximately R $ 25.8 billions of PE in nominal values (order of R $ 18.6 billion brought to present value at a discount rate of 10% pa).