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Petrobras, The Brazilian State Oil Company, Expanded Its Relationship with Geophysical Services Company PXGEO in a New 3D Survey Project at Water Depths of 2,300 Meters in the Sepia Block Region in the Santos Basin.
The agreement, expected to last four months, is the fourth project from PXGEO with Petrobras since 2021, consolidating the partnership between the companies. The Santos Basin is one of Brazil’s main oil-producing regions, located off the coast of São Paulo state and covering an area of approximately 352,260 km².
With oil production starting in the Sepia Block in 2021, the new project with PXGEO is expected to help achieve a production plateau of 180,000 barrels per day with the first floating production, storage, and offloading unit (FPSO).
Partnership Between Petrobras and PXGEO Has Fourth Project in 2022
PXGEO is a geophysical services company with its main activities focused in Latin America. Since 2021, it has strengthened its relationship with Petrobras, one of Brazil’s largest companies and a major player in the global oil and natural gas sector.
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In an official statement, PXGEO’s CEO, Peter Zickerman, stated that the new contract with Petrobras is the fourth project acquired by the company since 2021 and demonstrates the company’s true commitment to providing safe and efficient methods for acquiring ocean-bottom-node (OBN) data in deep waters in Brazilian territory.
Oil and Natural Gas Production in the Santos Basin
The discovery of oil in a well operated by Petrobras in its section of the Sepia Block in October 2022 paved the way for the expansion of oil and natural gas exploration activities in the Santos Basin in 2023. With the signing of the new contract with Petrobras for deep-water data acquisition, PXGEO consolidates its position as one of the leading geophysical services companies in Brazil, offering high-quality solutions and cutting-edge technology to its clients.
It is worth noting that Petrobras is the operator of the shared Sepia reservoir, holding a 55.3% stake, followed by TotalEnergies with 16.9%, and Petronas Petróleo Brasil and QatarEnergy, each with 12.7%, and Petrogal with 2.4%.
Data Collection in Deep Waters in the Santos Basin
The Santos Basin is an area of great importance for the oil and natural gas industry in Brazil. With vast hydrocarbon reserves, it is capable of producing large volumes of oil and natural gas. Therefore, data collection in deep waters is one of the most important activities in the region.
PXGEO is one of the leading companies in the oil and natural gas exploration services sector in Brazil and offers a wide range of geophysical services, including seismic, magnetometry, gravimetry, and other related activities.
With the recently signed contract with Petrobras, PXGEO will provide a 3D ocean floor data survey in the Santos Basin over the next four months at water depths of 2,300 meters. This data survey is expected to contribute to the development of oil and natural gas exploration activities in the region and help increase Brazil’s oil and natural gas production in the coming years.
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