Petrobras Confirms 12 Oil Platforms in the Giant Búzios Field: New Generation of High-Capacity FPSOs

The Búzios Asset Currently Has 4 FPSO Platforms Installed in the Pre-salt of the Santos Basin. Petrobras Expects Record Oil Production in 2030

Búzios is the most important and profitable asset for Petrobras, and the next decade will be decisive in terms of revenue and production. The state-owned company expects around 2 million barrels of oil produced in the pre-salt of this field by the next decade with 12 Floating Production Storage and Offloading units (FPSO). Here is the full note from Petrobras:

“The main asset of Petrobras, currently responsible for about 27% of the company’s oil production in Brazil, the Búzios field is expected to reach the end of the decade with daily production exceeding 2 million barrels of oil per day. By then, 12 production units will be operating in the field, with the inclusion in the coming years of eight new FPSOs to the current set of 4 units already in operation (P-74, P-75, P-76, and P-77). The information comes from Petrobras Executive Manager Marcio Kahn, who participated on Tuesday (11/17) in the 3rd Pre-salt Oil Technical Forum, organized by PPSA. “Búzios is a field of great value and low cost,” defined Marcio at the online event, which brought together industry professionals to discuss the scenario for the next ten years in the Pre-salt Polygon. Located in the Santos Basin, the Búzios field currently produces about 600 thousand barrels daily.”

“According to the executive, the P-78 and P-79 platforms, expected to begin operations in Búzios in 2025, represent the so-called new generation of high-capacity FPSOs for the company, incorporating lessons learned from the FPSOs already installed in the pre-salt, including aspects of contracting and construction. Together, the two new units will add a capacity of 360 thousand barrels per day to the field’s production.”

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“Also present at the event, the Executive Manager of Libra, Mariana Cavassin, presented the HISEP Submarine technology, expected to come into operation in the Mero 3 field in 2024 and currently in the testing phase. The project aims to accelerate production in the field and increase the recovery factor by separating and reinjecting the submarine gas with high CO2 content produced along with the oil. The executive also highlighted the technology’s contribution to mitigating impacts related to carbon emissions, as CO2 is reinjected into the reservoir from the seabed.”

“The executive advocated for the extension of the production-sharing contract, a regulatory model applicable to the Libra field, which provides for the return of the asset in a maximum of 35 years. According to Mariana, the possibility of extending the term, similar to what occurs under the concession regime, would reduce uncertainties for the development of production and increase the attractiveness of the sector. “The idea is that a Bill allows for the extension of this model, which enhances the continuity of investments and reduces decommissioning processes. The result is a gain for everyone: Petrobras, partners, and society,” she pondered. The Libra Consortium was formed by Petrobras (operator, with 40%), Total (20%), Shell Brasil (20%), CNPC (10%), and CNOOC Limited (10%), in the first pre-salt auction under the sharing regime, in October 2013, with PPSA as the contract manager.”