ANP Approves Concession Contracts for Perenco in Shallow Waters of Campos Basin Until 2040

Written by Roberta Souza

Published on 28/01/2021 at 09:26

Perenco

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With The Concessions Renewed by ANP, Perenco’s Investments in The Campos Basin Can Reach Up to US$ 362 Million

The National Agency of Petroleum, Natural Gas and Biofuels – ANP, approved the extension of Perenco’s concession contract for the shallow water oil fields in the Campos Basin until 2040. This year, 58 well restoration actions are planned in the Carapeba, Pargo, and Vermelho fields, including interventions in pipelines, well restarts, repairs, and increasing the capacity of submersible centrifugal pumps.

Investments:

The plan includes the company’s investment of around US$ 192 million and an additional US$ 170 million in contingent funds, which could raise the total investment to US$ 362 million. It is also planned to resume production at the Carapeba field; the project has been suspended since March 2019 and will invest in restoring the pipeline that connects the oil field to Pargo, with the construction of a new gas pipeline planned for 2022.

The private oil company will install the FSO in Pargo by 2022. It will also streamline the platforms in Carapeba and Vermelho by 2023, reducing the size and number of equipment, and replacing and restoring the three pipelines in Vermelho.

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Royalties:

The board of directors of ANP also approved a reduction in usage fees for these three areas of Perenco. Estimates from ANP indicate that, between 2021 and 2027, the firm investment in revitalizing production will increase royalties from the Pargo field by R$ 22.9 million.

In the Vermelho field, it is estimated that there will be an increase of R$ 27.6 million between 2023 and 2040. The results of the calculations also show that, from 2021 to 2040, with the resumption of production in the Carapeba oil field, the Union and state and municipal governments will earn approximately R$ 113.4 million in royalties.

ANP Approves Concession Contracts for Perenco in Shallow Waters of Campos Basin Until 2040

With The Concessions Renewed by ANP, Perenco’s Investments in The Campos Basin Can Reach Up to US$ 362 Million

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ANP Approves Concession Contracts for Perenco in Shallow Waters of Campos Basin Until 2040

With The Concessions Renewed by ANP, Perenco’s Investments in The Campos Basin Can Reach Up to US$ 362 Million

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