Brazilian Oil Giant Petrobras Will Invest Over R$ 80 Billion in Campos Basin: Stage for the Largest Offshore Industry Revitalization Project on the Planet

Written by Flavia Marinho

Published on 05/05/2022 at 06:55

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Petrobras Plans to Install Three New Platforms and Interconnect More Than 100 Oil Wells by 2027 as Part of Its Campos Basin Renewal Plan.

Petrobras announced in a material fact to the market on May 3 that it will invest US$ 16 billion (more than R$ 80 billion at the current exchange rate) in the Campos Basin renewal plan, with a forecast to install three new platforms and interconnect more than 100 wells in the area over the next five years. With more than 40 years of history and two awards received from the Offshore Technology Conference (OTC) for technological advances in the Marlim (1992) and Roncador (2001) fields, the Campos Basin maintains its prominent position as an innovation hub and looks to the future: today it is the stage for the world’s largest offshore industry revitalization project. This statement was made by Petrobras Executive Director of Strategy, Eduardo Bordieri, who presented, on Tuesday (05/03), the company’s main investments for the area during the Offshore Technology Conference (OTC).

According to the report, in the coming years, Petrobras will adopt new technologies for revitalization of mature assets in the area and decommissioning of its oil platforms – which is the process of deactivating units when they reach the end of their life cycle. “In 2021, the Campos Basin accounted for about 25% of Petrobras’s total production. The company projects to reach, in 2026, a volume of 900,000 barrels of oil equivalent (boe) in that basin, with the start of production from three new systems. This volume represents about three times the production we would achieve if we had not invested in the new platforms. In other words: without the new projects, our future production in the basin would be 300,000 boe,” explained Bordieri.

Three New Oil Platforms Planned by 2026

Petrobras plans to install three new FPSO-type platforms (floating production, storage, and offloading systems) in the region in the coming years. The FPSOs Anita Gabribaldi and Anna Neri will be installed in the Marlim field and will have the capacity to produce up to 150,000 barrels per day (bpd) combined. The third unit planned is the Maria Quitéria, in Jubarte, in the Parque das Baleias complex, in the Espírito Santo portion of the Campos Basin, with a capacity of 100,000 bpd.

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The basin has accumulated a series of significant results. For comparison, Petrobras set a national record there for the time taken to construct 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 Espírito Santo Basin. In Marlim, the historical average for the construction of wells over the past 20 years was 93 days, indicating a reduction of 63% in this timeframe. “This performance demonstrates our economic resilience in well projects, as well as our technological advancements in new well models, which are faster and more optimized than conventional ones,” said Bordieri.

According to its Strategic Plan 2022-2026, Petrobras aims to add a volume of 20 billion boe to its reserves by 2030, with 5 billion boe coming from the assets operated by Petrobras in the Campos Basin. This projection is the focus of the strategic program called RES-20, which is entirely dedicated to expanding the company’s reserves.

Brazilian Oil Giant Petrobras Will Invest Over R$ 80 Billion in Campos Basin: Stage for the Largest Offshore Industry Revitalization Project on the Planet

Petrobras Plans to Install Three New Platforms and Interconnect More Than 100 Oil Wells by 2027 as Part of Its Campos Basin Renewal Plan.

Three New Oil Platforms Planned by 2026

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Brazilian Oil Giant Petrobras Will Invest Over R$ 80 Billion in Campos Basin: Stage for the Largest Offshore Industry Revitalization Project on the Planet

Petrobras Plans to Install Three New Platforms and Interconnect More Than 100 Oil Wells by 2027 as Part of Its Campos Basin Renewal Plan.

Three New Oil Platforms Planned by 2026

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While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

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With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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