The agreement approved yesterday (12) by the ANP on the Búzios field, in the Santos Basin pre-salt, is the first signed as a result of the transfer of rights auction

Yesterday, Thursday (12/08), the ANP – National Agency of Petroleum, Natural Gas and Biofuels approved the Búzios co-participation agreement, which will regulate the coexistence of the transfer of rights contract and the production sharing contract of the surplus of onerous assignment for the Búzios field, located in the Santos Basin pre-salt. Also see this news: Pre-salt – Petrobras advances in exploration of the largest field in the world, the Búzios field, in the Santos Basin

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The agreement signed by the ANP on the Búzios field, in the Santos Basin pre-salt

In the contract, signed in 2010, the Union assigned to Petrobras, upon payment, the exercise of exploration and production activities in seven blocks of the Santos Basin, including the Búzios field, in the pre-salt of the Santos Basin. Production in these areas will be restricted to up to 5 billion barrels of oil equivalent (boe). The purpose of the agreement is to enable the production of the volumes bid in the First Bidding Round for Excess Volumes of the Assignment of Rights, held by the ANP in 2019.

This is the first agreement entered into as a result of the contracting of surplus volumes from a transfer of rights field. He wants to guarantee legal certainty, which could result in greater attractiveness for the Sépia and Atapu areas (also located in the pre-salt), objects of the Second Round of Bids for Excess Volumes of the Transfer of Rights, scheduled for December 17 of this year.

The approval of the ACP also allows the start of production under the sharing regime and an immediate increase in the collection of royalties for the Union, states and municipalities, as well as the receipt of a percentage of production by the Union.

Contract value in the Búzios field was updated

After adjustments made to production estimates and taxes, the total amount of compensation that the parties to the production sharing contract in the Búzios field, in the pre-salt layer, owe to the transfer of rights part of the contract (100% Petrobras) was updated to US$ 29,0 billion, which will be recovered as cost in oil by contractors.

Thus, receipt by Petrobras of the portion of the compensation from the partners CNODC Brasil Petróleo e Gás (CNODC) and CNOOC Petroleum Brasil (CNOOC), in the amount of US$ 2,9 billion, should occur by the end of this month, so that the agreement is in force on 01/09/2021. As of the beginning of the agreement, the participation in the shared deposit of Búzios, including the portion of the concession contract BS-500 (100% Petrobras), will be 92,6594% of Petrobras and 3,6703% of each of the partners, already considering the adjustment in the production estimate.

Check out this news: Petrobras signs a contract with Saipem and DSME for the construction of FPSO P-79, which will be installed in the Búzios field, in the pre-salt in the Santos Basin

Petrobras announced the signing of the contract with Saipem and DSME for the construction of the FPSO P-79 platform, which will be located in the Búzios field, located in the pre-salt layer, in the Santos Basin. O FPSOs It is expected to be delivered in 2025, and will have a processing capacity of 180 barrels of oil per day and 7,2 million m³ of gas per day. The contract between the companies will be worth US$ 2,3 billion to supply the P-79, the eighth unit to be installed in the Búzios field.

The FPSO-type platform (capable of storing and transferring oil) will start operating by 2025. In addition, Petrobras added that FPSO P-79 will have a daily processing capacity of 180 barrels of oil and 7,2 million cubic meters of natural gas per day.

The Petrobras project also provides for the interconnection of 14 wells to the FPSO that will be installed in the Búzios field, in the pre-salt layer, in the Santos Basin, with eight producers and six injectors. The subsea infrastructure will have rigid production and injection pipelines and flexible service pipelines.