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Production Sharing Contracts in the Pre-Salt Oil Sector Could Generate $204.4 Billion for Federal Coffers

Written by Flavia Marinho
Published on 18/11/2020 at 11:34
Pré-Sal: Contratos de partilha da produção de petróleo no pré-sal poderão gerar 204,4 bilhões de dólares para os cofres da União
Contratos de partilha da produção de petróleo no pré-sal poderão gerar 204,4 bilhões de dólares para os cofres da União
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Pré-Sal Petróleo SA Estimates That During This Period It Will Be Necessary to Hire 24 Floating Production Storage and Offloading Units (FPSOs), Drilling 387 Wells

Eduardo Gerk, President of Pré-Sal Petróleo SA (PPSA), reported on Tuesday morning at the 3rd Technical Forum of Pré-Sal Petróleo that by 2030, the federal coffers could receive US$ 204.4 billion from the 17 production sharing contracts for oil in pre-salt fields already under development. Looking for a job? Jurong Aracruz Shipyard in ES Starts Job Openings for Technicians and Engineers with Experience in FPSO Projects

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Of the 17 contracts, revenue from the sale of oil production from the pre-salt is estimated at US$ 75.3 billion. Another US$ 72.4 billion will come from royalties and an additional US$ 56.7 billion in taxes.

Three oil fields in the pre-salt are already producing 45,000 barrels per day (Mero, Southwest of Tartaruga Verde, and Surrounding Sapinhoá).

The Minister of Economy Paulo Guedes has raised the issue of privatizing Pré-Sal Petróleo SA (PPSA) due to these projections of significant resources that the federal government will receive over the next ten years. The state-owned company, however, has no assets and manages the sharing contracts, presiding over the operational committees of all contracts.

The share of oil production that will belong to the federal government in the next decade is estimated at 1 billion barrels of oil, considering the 17 sharing contracts managed by Pré-Sal Petróleo SA (PPSA), according to the study presented by the president of the state company.

According to the data presented by Eduardo Gerk, the average daily production of the 17 contracts will ramp up in the coming years, especially from 2025 onwards.

The estimate is that these fields will reach a production level of 3.6 million barrels per day by 2030, when it is estimated that the country’s production will be around 5.26 million barrels per day. In other words, the production from these fields will represent about 2/3 of the total production.

According to the executive, to achieve this high level of oil production in the pre-salt fields, investments of US$ 122.7 billion will be needed between 2021 and 2030, with peak expenditures expected in 2028, when six FPSOs are expected to come into production.

The investment projection considers the start of operations of 24 FPSOs and the construction of 387 wells. It does not consider new auctions, such as the contracting of excess from Atapu and Sépia, under the onerous assignment, which will be offered in 2021.

Flavia Marinho

Flavia Marinho é Engenheira pós-graduada, com vasta experiência na indústria de construção naval onshore e offshore. Nos últimos anos, tem se dedicado a escrever artigos para sites de notícias nas áreas militar, segurança, indústria, petróleo e gás, energia, construção naval, geopolítica, empregos e cursos. Entre em contato com flaviacamil@gmail.com ou WhatsApp +55 21 973996379 para correções, sugestão de pauta, divulgação de vagas de emprego ou proposta de publicidade em nosso portal.

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