With the concessions renewed by the ANP, Perenco's investments in the Campos Basin could 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 oil fields in shallow waters of the Campos Basin, until 2040. This year, 58 well restoration actions are planned in the fields. Carapeba, Pargo and Vermelho, including interventions in pipelines, complementing wells, repairs and increasing the capacity of submersible centrifugal pumps.
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Investments:
The plan calls for the company to invest about US$192 million and another US$170 million in contingent funds, which could bring the total investment to US$362 million. It is also planned to resume production in the Carapeba field, the project has been suspended since March 2019 and will invest in the restoration of the pipeline that connects the oil field to Pargo, which is expected to build a new gas pipeline in 2022.
The private oil company will install the FSO at Pargo by 2022. It will also simplify the Carapeba and Vermelho platforms by 2023, reduce the size and number of equipment, and replace and restore the three pipelines at Vermelho.
The director general of the ANP, Rodolfo Saboia, says that “It is very good to see that a proposal like this can contribute to increasing the recovery factor of the reservoirs and to extending the useful life of the wells, with all the benefits that this brings. to bring”.
With all the investments, production in the areas is expected to increase to between 15 barrels per day and 20 barrels per day of oil.
Royalty:
The ANP board of directors also approved the reduction of user fees in these three areas of Perenco. ANP estimates indicate that, between 2021 and 2027, firm investment in revitalizing production will increase royalties from the Pargo field by 22,9 million reais.
In the Vermelho field, it is estimated that there will be an increase of 27,6 million reais between 2023 and 2040. The calculation results also show that between 2021 and 2040, with the resumption of production in the Carapeba oil field, União, and the state and municipal government will earn approximately 113,4 million reais in royalties.
