PETROBRAS FORCASTS UP TO 12 FPSOS FOR BUZIOS UNTIL 2030 AND PRODUCTION OF 2 MILLION BARRELS PER DAY

July 31, 2020

Petrobras plans to reach 2030 with at least 12 platform vessels in the Buzios field, its crown jewel in the Campos Basin pre-salt. Currently, the area has four units under production, one under construction, three under contract and another four under study. With these new units, the goal of the state-owned company is to increase production from the current 600 thousand barrels per day to 2 million barrels per day.

The company also highlighted, during a presentation to investors on Friday (31), the evolutions of the new pre-salt production systems in the field. Some of them were the 8-inch rigid pipelines for oil production, with an optimized configuration of risers and flow rates above 50,000 barrels per day.  Also cited open wells in intelligent completion, with optimization of production and reduction of construction time and cost.

Finally, the state-owned company also informed that negotiations for the Co-Participation Agreement with Chinese companies CNOOC and CNODC, and also with the Brazilian state-owned company PPSA, are going well, with conclusion expected by the end of 2020.

COST OF EXTRACTION IN THE PRE-SALT UNDER 7 DOLLARS PER BARREL

The cost of extracting oil fell considerably in the second half of the year, as the company hibernated platforms in shallow waters, which have a higher operating cost. According to the company, the cost of extraction is U$ 6.6 per barrel of oil equivalent, a drop of 12% compared to the previous quarter.

If you disregard charter costs, Petrobras’ average extraction expense is U$ 4.9 per barrel. In the pre-salt, this value is U$ 2.4, while in deep water fields it is U$ 8.7. On land, the cost is U$ 13.4 and in shallow water it is U$ 15.9.

Source: PetroNoticias

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