The drilling of 345 onshore and 146 offshore wells are planned by 2021 between private companies and Petrobras activities, despite concerns about the reduction in investments by the state-owned company
A Petrobras kicked off the drilling campaign for a key well in the Búzios field, the asset (9-BUZ-48D-RJS), which is approximately 1.880m deep, according to official information from the National Petroleum, Natural Gas Agency and Biofuels (ANP)
35% of the state-owned company's E&P investments will be absorbed by the Búzios field, featuring its largest development plan for 2021-2025 and an expected budget of between US$40-50 billion.
The pre-salt asset was produced through four FPSOs 758Mboe/d (million barrels of oil equivalent per day) in August, according to the latest ANP data. It is the second largest course in Brazil, behind only Tupi (former Lula).
Petrobras plans to install at least eight platforms in the area, including the FPSO Almirante Tamandaré, which should become the largest in Brazil, whose charter and construction contract is being negotiated with Petrobras. SBM Offshore .
Current drilling overview in Brazil
The ANP informed that 18 exploratory wells are active, six of which are offshore. In addition to the new Búzios well, Petrobras is also drilling in block CM-657 and the fields of marlin , Albacora (Campos basin) and Sépia and Tupi (Santos).
Meanwhile, private companies BGM, Imetame, Eneva, Great Energy and Petrosynergy are drilling in the Espírito Santo, Parnaíba, Recôncavo and Potiguar basins.
The ANP projects 29 exploratory wells to be drilled this year, 10 of which offshore, requiring investments of R$3,9 billion (US$690 million), while 19 onshore wells are budgeted at R$417 million.
In terms of production development drilling, watchdog forecasts the drilling of 207 wells this year (72 offshore), a slight increase from the 204 drilled in 2019. For 2021, 284 wells are expected (74 offshore).
Total investments in drilling are expected to reach 16,2 billion reais in 2020 (15,8 billion reais offshore) and 14,4 billion reais in 2021 (13,8 billion offshore), according to the ANP.
Petrobras, IOCs and others
One concern, however, concerns the reduction of Petrobras' exploration investments, from the US$ 11,5 billion forecast in its 2020-24 business plan to US$ 7 billion in the period 2021-25.
On the other hand, the commitment indicators (IOCs) indicate that the ExxonMobil in the Santos and/or Campos and Sergipe basins, Premier Oil (Ceará) and There is (Santos) should start offshore drilling campaigns next year.
Focusing on mature offshore assets, PetroRio, Trident Energy, Perenco, BW Offshore and Ouro Preto Oil and Gas can carry out revitalization campaigns in the fields of the Campos de Polvo, Tubarão Martelo, Pampo / Enchova, Maromba e Pescada, Arabaiana and Dentada basin.
Onshore, small and medium-sized companies such as Karavan Oil, Eagle Exploração, 3R Petroleum and Central Resources do Brasil are committed to recovering more oil in the fields acquired from Petrobras.
“There should be a gradual resumption of drilling, especially in the pre-salt layer, in addition to the concession areas alienated by Petrobras,” Paulo Fernando Melo, from PFM Associados, told BNamericas.
“In relation to the onshore segment, there may be an increase in activities if the price of a barrel of oil is maintained or rises, combined with the support [of the federal onshore program] Reate”, he added.
During the Mossoró Oil and Gas conference, which will take place from November 24th to 26th, in Rio Grande do Norte, the Ministry of Mines and Energy will hold a “Mesa Reate” meeting with private entities to discuss the main challenges of the onshore segment.
Anabal dos Santos Júnior, executive secretary of the association of independent producers Abpip, believes that the main onshore activities in 2021 will be the revitalization of old Petrobras fields.
“In the following year, I expect oil companies to start building their campaigns, both onshore and offshore,” he told BNamericas.
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