PETROBRAS REDUCED COST OF EXTRACTION IN THE PRE-SALT TO U$2.00 AND ADVANCED IN THE WORKS OF THE MERO AND SEPIA FPSOS

Petrobrás is on a constant path to reduce its oil extraction costs even more, especially in the challenging scenario that operators are facing in the pandemic scenario. Over the past few months, the Brazilian company has managed to go further in this objective, reducing the cost of extraction in the pre-salt layer to U$ 2.27 per barrel in the third quarter, not counting the costs of platform chartering. The number represents a 5% drop in relation to the lifting cost between April and June (US $ 2.39 per barrel). Compared to the same period last year, the fall is even greater: – 23.2%.

The company explains that it continues to observe the maintenance of low unit costs due to the stabilization of the new production systems in the pre-salt layer. The highlight is the Búzios platforms, which have high productivity and very competitive costs. The 5% drop in the cost of extraction in the pre-salt wells was mainly due to the increase in production in the field.

If we consider all Petrobras fields (including shallow, post-salt and onshore assets), the company’s total extraction cost in the third quarter dropped to US $ 4.54 per barrel, without taking into account government and the charter cost. The amount represents a reduction of 8% in relation to the previous quarter. The oil company attributed the result to the growth of its production, due to the improvement in the operational efficiency of the pre-salt fields, and the entry of the P-70, at the end of June.

In the last three years, Petrobras has started the production of nine platforms and will put another 12 into operation in the coming years. By the way, the two new platform vessels of the state-owned company scheduled for next year, the FPSOs Carioca (Sépia) and Guanabara (Mero), are now with more than 90% of physical progress in their respective works. The company has already applied for a license for the FPSO Carioca.

In addition to these, other FPSOs have progressed relatively well over the past quarter. In the case of the FPSO Almirante Barroso, planned for the Búzios field, in 2022, the platform had a physical advance of 11 percentage points and is now with 47% of the works completed.

Coincidentally, two other vessels under construction for entry in 2023, FPSOs Anna Nery (Marlim) and Sepetiba (Mero), also saw their works progress 11 percentage points, reaching completion rates of 30% and 52%, respectively. The only exception was the FPSO Anita Garibaldi (2022), which went from 31% to just 34% of physical progress.

Source: PetroNoticias

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