In Just 35 Days, Brazilian Oil Giant Petrobras Breaks Paradigm, Sets Record, and Builds Deepwater Offshore Well in Campos Basin

Written by Flavia Marinho

Published on 08/07/2022 at 11:12

Updated on 19/07/2022 at 15:35

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Petrobras Not Only Broke a New Paradigm in Offshore Well Construction but Also Marked a New Stage in the Revitalization of Mature Oil Fields

Petrobras, one of the largest oil companies in the world, announced in a relevant fact to the market, on April 19, that it set a national record in the construction time of a deep-water well, reaching the mark of 35 days, in the Marlim field, in the Campos Basin. For comparison, the previous record in the country was 44 days, set in 2021 in the Golfinho field, in the same basin.

According to the Brazilian oil company, in Marlim, the historical average in the last 20 years for well construction was 93 days, indicating a reduction of 63% in this timeframe. This performance generated savings of about R$ 40 million for Petrobras, considering the reduction in costs for logistics expenses and rig rentals, whose daily rate is around R$ 1.5 million, in addition to reducing the exposure of workers to risk.

The well 7-MRL-233H-RJS is part of the revitalization project for the Marlim and Voador fields and is located at a water depth of 850 meters – equivalent to the height of 22 stacked Corcovado statues – 150 km from the coast. “With this record, Petrobras not only broke a new paradigm in well construction but also marked a new stage in the revitalization of mature fields. Any reduction in well construction time is synonymous with significant cost reduction and value creation, as this activity accounts for about 30% of the investments in Exploration and Production,” assessed the Production Development Director, João Henrique Rittershaussen.

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Construction of This Well Is Part of the Largest Recovery Program for a Mature Asset Underway in the Global Offshore Industry

The construction of this well is part of the largest recovery program for a mature asset underway in the global offshore industry: the revitalization of the Marlim and Voador fields. A field is considered mature when it has surpassed its peak production. The Petrobras project anticipates the interconnection of 75 wells and the installation, in 2023, of two FPSO (floating production, storage, and offloading) platforms, with a combined capacity to produce 150,000 barrels of oil per day (bpd).

“The expectation is that Marlim will represent a watershed in large-scale mature field recovery projects, paving the way for the company to invest in other similar initiatives. Even after 30 years of production, the field continues to renew itself and bring new opportunities for the company,” concluded Director Rittershaussen.

According to Petrobras, which began operations in 1991, Marlim is the Brazilian asset with the highest cumulative production, with nearly 3 billion barrels of oil equivalent, and the first Petrobras project to receive the award granted by the Offshore Technology Conference (OTC) – considered the Oscar of the global industry – in 1992, for the set of innovative technologies applied in the field.

In Just 35 Days, Brazilian Oil Giant Petrobras Breaks Paradigm, Sets Record, and Builds Deepwater Offshore Well in Campos Basin

Petrobras Not Only Broke a New Paradigm in Offshore Well Construction but Also Marked a New Stage in the Revitalization of Mature Oil Fields

Construction of This Well Is Part of the Largest Recovery Program for a Mature Asset Underway in the Global Offshore Industry

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In Just 35 Days, Brazilian Oil Giant Petrobras Breaks Paradigm, Sets Record, and Builds Deepwater Offshore Well in Campos Basin

Petrobras Not Only Broke a New Paradigm in Offshore Well Construction but Also Marked a New Stage in the Revitalization of Mature Oil Fields

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