Divestments and Petrobras' focus on deep and ultra-deep waters intensify competitiveness and leverage production from mature oil fields in Brazil, which sees the number of new operators jump to 44

Petrobras leverages oil production scenario in Brazil. The company's divestment strategy expands the competitiveness and performance of other companies in the country 

Petrobras' new strategy of focusing on deep and ultra-deep water assets, with substantial reserves and high productivity, was instrumental in boosting competitiveness and expanding production from mature fields in Brazil.

To give you an idea, the percentage of mature field concessions operated by companies in Brazil – other than Petrobras – increased from 16% in 2010 to 38% in 2021. During this period, the number of operating companies jumped from 24 to 44.

"These companies have given impetus to the operation of the assets disinvested by Petrobras, changing the trend of declining production in these fields", stated the executive manager of Deep Waters at the company, César Cunha, on the second day of Rio Oil & Gas.
 
According to the state-owned company, Petrobras' divestments concentrated in mature oil fields mainly attract smaller companies, specialized in extracting more value from this type of asset, similar to what happens in other basins in the world.

For example, daily production at Polo Pargo, in the Campos Basin, jumped from 2,5 barrels of oil equivalent (boe) – six months before the conclusion of the divestment – ​​to 5,4 boe/day – after the conclusion of the transaction. 

Petrobras will invest US$ 16 billion in the revitalization of the Campos Basin

Petrobras reallocates investment to focus on assets in deep and ultra-deep waters, with substantial reserves and high productivity. “A good example of the reallocation of investments is the Campos Basin Revitalization Plan, which received a contribution of US$ 16 billion as part of Petrobras' Strategic Plan. Our forecast is that in 2026 we will have a production of 900 boe/day, with 600 boe/day in new projects”, said the executive manager for Deep Water at Petrobras. 
 
The Campos Basin revitalization is part of the largest program of its kind for mature assets in the global offshore industry. With this, Petrobras expects to add more value to the Marlim and Voador fields, installing the FPSOs Anita Garibaldi and Anna Nery with capacity to produce, together, up to 150 thousand barrels per day (bpd). The start of operation of the two platforms is scheduled for 2023.
 
An international hub for offshore technology and the cradle of production in deep waters in Brazil, the Campos Basin is responsible for almost 75% of all the oil ever extracted in the offshore environment in the country to date. The region was a pioneer in innovation and will continue to be, both for the decommissioning projects that are on the radar, and for the revitalization of mature concessions operated by new companies operating in the sector.

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