Petrobras Delays Startup Of Platforms But Maintains Production Targets

Petrobras Recently Announced The Postponement Of The Commissioning Of Three Production Systems (FPSOs), In Relation To The Forecasts Published In Its 2023-27 Strategic Plan.

However, the state-owned company emphasized that it does not expect an impact on its oil and gas production goals. The FPSOs in question are the Búzios 7 platform, with a capacity of 225,000 barrels of oil per day, the Integrated Parque das Baleias (IPB), with 100,000 barrels of oil per day, and Búzios 10, with 225,000 barrels of oil per day. The expected commissioning has been postponed by one year for each platform, with Búzios 7 and IPB now expected to start in 2025 and Búzios 10 in 2027.

The Petrobras highlighted that, considering the company’s consolidated portfolio of assets and projects, no impacts on the oil and natural gas production targets published are expected. In the 2023-27 Strategic Plan, the company set a goal of reaching 3.1 million barrels of oil and gas equivalents per day by 2027, compared to 2.6 million estimated for 2023.

It is important to highlight that Petrobras’ goals consider a variation of 4% either way. With the postponements of the platforms, the company still has a reasonable amount of time to achieve its previously established goals.

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Ministry Of Mines And Energy Requests Information On Projects

In the same statement, Petrobras reported that the Ministry Of Mines And Energy requested information on the company’s projects to support the development of the new Accelerated Growth Program (PAC). The state-owned company forwarded information on its current investment project portfolio in the implementation phase, from the Exploration and Production (E&P), Refining, Transportation and Marketing (RTC), Gas and Energy (G&E), and Renewables areas.

According to Petrobras, all these projects are included in its 2023-27 Strategic Plan, including exploratory projects in the Equatorial Margin or bio-refining projects, even if in the planning phase.

Postponement Amid Expansion Plans

The postponement of the commissioning of the platforms occurs amid Petrobras’ expansion plans. At the end of 2021, the company announced its 2023-27 Strategic Plan, which foresees investments of US$ 55 billion, mostly for oil and gas exploration and production.

The plan also includes the sale of some companies controlled by Petrobras, such as BR Distribuidora and Liquigás. The sale of these assets is part of the company’s strategy to reduce its debt and focus on areas considered more strategic, such as oil and gas exploration and production.