Field Operated by Petrobras and Equinor Has Contract Extended for Another 27 Years

ANP Renews Concession Contract and Petrobras and Equinor Will Operate the Third Largest Oil Producing Field in Brazil for Another 27 Years

The Roncador Oil Field, located in deep waters off the coast of Espírito Santo in the Campos Basin and operated by Petrobras, had its concession contract extended for another 27 years by ANP. The Portuguese GALP Increased Its Production in Brazil, Check It Out Here!
The asset is the third largest oil producer in the country, surpassed only by Lula and Sapinhoá, pre-salt fields in the Santos Basin.

The Roncador field is located in the northern portion of the Campos Basin, approximately 125 km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,500 to 1,900 m. Its Development Area is 397.6 km² and is bounded to the north by the State of Espírito
Santo, to the west by the Frade field, and to the south by the Albacora and Albacora Leste fields.

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Currently, four platforms produce oil from the Roncador field: P-52, P-54, P-55, and P-62, which combined have the capacity to produce 720,000 barrels of oil per day.
There are 51 producing wells, the largest producing 16,000 barrels/day and the smallest, 0.9 barrels/day.

Declared commercial in 1998, it began operation in 1999 and is one of the Fields from the so-called Round Zero, which was the auction that confirmed the fields that would remain with Petrobras after the end of the monopoly on exploration and production activities in Brazil.

The Entry of Equinor

In mid-2018, the Norwegian Equinor (formerly Statoil) purchased a 25% stake from Petrobras for US$ 2 billion, which continued as the operator of the field with 75% ownership.

The average production of the Roncador field is approximately 240,000 barrels of oil per day and 40,000 barrels of oil equivalent (oil and natural gas) per day.
The field has approximately 10 billion barrels of oil and oil equivalent in place (in situ) and an expected remaining recoverable volume of over 1 billion equivalent barrels.

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