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The Shallow Water Exploration And Production Poles Should Represent Only 2% Of The Total In Petrobras’s Plans For Next Year
Petrobras estimates that its deep and ultra-deep water assets will represent 88% of the total exploration and production (E&P) poles next year, up from 55% currently. The state oil company is conducting the largest seismic survey in the world in Búzios.
The announcement was made on Tuesday, November 19, by Roberto Ardenghy, the company’s Executive Director of Institutional Relations.
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The transformation will occur as the state-owned company undertakes a multibillion-dollar asset sales program focused on adjusting the portfolio for higher financial return projects, mainly in the pre-salt areas of Campos and Santos.
“Petrobras is selecting those projects where it has the greatest capacity to recover the invested value, pursuing low costs…”, said the Executive Director of Institutional Relations of the state oil company, Roberto Ardenghy, on Tuesday.
In Petrobras’s plans, the shallow water exploration and production poles are expected to represent only 2% of the total in 2020, down from 8% currently. Onshore poles are expected to reach 10%, down from 37% in the same comparison.
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During an event at the Federation of Industries of the State of Rio de Janeiro (Firjan), Ardenghy stated, “Today, 24% of our fields in deep water produce 81% of the oil that Petrobras produces, while 76% of our fields in shallow water and on land produce only 19% of the production volume.”
He also emphasized during his presentation the company’s interest in advancing its projects in partnerships with foreign companies.
According to the executive, the aim is for assets in partnership with other companies to represent 57% of the total by 2020, up from 34% currently.
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