Ministry of Mines and Energy Plans Program to Encourage Revitalization of Offshore Fields

Written by Roberta Souza

Published on 23/09/2020 at 14:22

Updated on 23/09/2020 at 14:23

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The Main Objective of the Program Studied by the Ministry of Mines and Energy Is the Development of Production in Shallow Water Areas

The MME – Ministry of Mines and Energy, is studying the possibility of launching a production incentive program in offshore fields, based on the Revitalization Program for Oil and Natural Gas Exploration and Production Activities in Land Areas (Reate 2020). The main objective will be to encourage oil and gas production on land. One of the focuses of the program will be the Campos Basin.

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According to José Mauro Ferreira, Secretary of Oil, Gas, and Biofuels at the Ministry of Mines and Energy, who spoke at the launch event of the oil yearbook from the Federation of Industries of Rio de Janeiro – Firjan, the goal will be to develop or revitalize production in mature fields, in shallow water areas.

Clarissa Lins, president of the Brazilian Institute of Oil, stated that “Mature fields mean attracting more players, which is very beneficial; these are new actors that enrich the business context here in Brazil and in Rio de Janeiro, in particular.”

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One of the main locations the program focuses on is the Campos Basin, located off the northern coast of the state of Rio de Janeiro, amid the divestment of Petrobras assets, which plans to sell all its assets of this profile. Claudia Rabello, undersecretary of oil, gas, and energy for the state of Rio, confirmed that the state government is studying the possibility of incentivizing opportunities for revitalization in the basin, as well as opportunities for decommissioning platforms and investment in offshore wind energy.

The Energy Research Company showed data on exploration in offshore fields, indicating that Rio de Janeiro will be responsible for producing about 4 million barrels/day of oil by 2030, out of the 5.26 million barrels/day expected for national production.

José Mauro Ferreira stated that the Ministry of Mines and Energy remains committed to holding the second auction for the assignment of remaining rights in the third quarter of 2021. “We have been doing a great job of eliminating uncertainties to make the auction more attractive in this scenario of oil prices,” he concluded.

Ministry of Mines and Energy Plans Program to Encourage Revitalization of Offshore Fields

The Main Objective of the Program Studied by the Ministry of Mines and Energy Is the Development of Production in Shallow Water Areas

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Ministry of Mines and Energy Plans Program to Encourage Revitalization of Offshore Fields

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