Petrobras Expected to Spend About 6 Billion Dollars on Decommissioning Plan for Platforms, Submarine Pipelines, and Offshore Wells

Written by Kelly

Published on 29/09/2020 at 09:41

Plataforma offshore/Imagem: Divulgação

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In 2022 and 2023, Petrobras Is Expected to Spend US$ 1.1 Billion Each Year, and Another US$ 1 Billion in 2024 for Decommissioning Platforms

According to a statement on Monday (28), Petrobras is expected to spend approximately US$ 6 billion on a decommissioning plan for platforms, subsea pipelines, and offshore wells. This cost is estimated based on ongoing projects for these assets until 2024.

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This year in 2020, the expected cost was US$ 500 million. The total cost is expected to rise to US$ 2.3 billion next year. In 2022 and 2023, Petrobras is expected to spend US$ 1.1 billion each year, and another US$ 1 billion in 2024.

The state-owned company also stated that it expects to bring in US$ 1 billion in cash from divestments in 2020, after receiving US$ 14.4 billion last year.

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The term is defined by the National Agency of Petroleum (ANP) as follows: “Decommissioning is the set of legal actions, technical and engineering procedures applied in an integrated manner to an Offshore system aiming to ensure that its deactivation or cessation of production meets safety conditions, environmental preservation conditions, reliability, and traceability of information and documents.”

The decommissioning project of a platform involves a series of professionals operating in the areas, such as civil, maritime, and naval engineers, in addition to project management, surveying, professionals in various environmental fields, waste management, recycling, catering, and maritime support.

According to the consultancy Wood Mackenzie, the decommissioning market may attract US$ 90 billion to US$ 100 billion over the next 10 years. Brazil, due to the characteristics of our platforms where 45% are over 25 years old, may generate US$ 9 billion in the next 10 years. And all of this opens an opportunity for economic activity.

Petrobras Expected to Spend About 6 Billion Dollars on Decommissioning Plan for Platforms, Submarine Pipelines, and Offshore Wells

In 2022 and 2023, Petrobras Is Expected to Spend US$ 1.1 Billion Each Year, and Another US$ 1 Billion in 2024 for Decommissioning Platforms

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Petrobras Expected to Spend About 6 Billion Dollars on Decommissioning Plan for Platforms, Submarine Pipelines, and Offshore Wells

In 2022 and 2023, Petrobras Is Expected to Spend US$ 1.1 Billion Each Year, and Another US$ 1 Billion in 2024 for Decommissioning Platforms

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