Petrobras Faces Challenges in Selling Recôncavo

Written by Renato Oliveira

Published on 06/05/2019 at 01:00

Updated on 05/05/2019 at 19:36

Petrobras e o Recôncavo

Be the first to react!

With Low Exploration and Production Activity in the Area, Petrobras Has Been Trying to Sell Mature Fields in Recôncavo for Two Years, but Has Encountered Difficulties

Petrobras’ divestment program, despite being underway, has not been that easy in some regions, such as Recôncavo, where after two years promoting the sale of areas, Petrobras has still not disposed of assets in the basin.
On one hand, there is low interest from interested parties; on the other hand, the oil company continues with its exploration and production activities significantly reduced, showing a certain lack of interest as well.

In 2018, the company drilled 21 wells in the basin, with only one of them being exploratory and only two indications recorded, with no declaration of commerciality of any area.
In 2017, Petrobras had already disclosed its divestment plan in the sector and drilled 11 wells, with only three being exploratory, five indications recorded, and a total of four blocks declared commercial, which originated the fields of Canário da Terra, Canário da Terra Sul, Caburé Leste, and Mãe-da-Lua.

ARTICLE CONTINUES BELOW

Production Decline

Since Petrobras Started Its Divestment Program, production in the Recôncavo basin has dropped almost 10%, from 45,400 boed to 41,400 boed, according to ANP data.
If we compare current production with production in 2010, the decline becomes even more evident; in September of that year, 64,000 boed were extracted, including 44,000 bopd and 3.2 million m³ of natural gas.

According to Marcelo Magalhães, president of the Brazilian Association of Independent Producers (ABPIP), “The issue for Petrobras is how to ensure that the divestment moves forward. It needs to make the sales process quicker and more agile. The ANP, for example, could act as an intermediary.”

To try to find a solution, the ANP and small and medium producers interested in the areas are discussing alternatives to ensure that this situation does not hinder Petrobras’ divestment plan.

PetroRio Stops Producing Oil in Recôncavo! See How the Brazilian Oil Company’s Exit from Brazilian Onshore Went!

Petrobras Faces Challenges in Selling Recôncavo

With Low Exploration and Production Activity in the Area, Petrobras Has Been Trying to Sell Mature Fields in Recôncavo for Two Years, but Has Encountered Difficulties

Production Decline

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

While a traditional school may take several days just to raise walls, in Malawi a 3D-printed school had its structure ready in 18 hours, welcomed children in June, and showed a new solution to the lack of classrooms.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

Empty beer bottle turns into sand, and the sand turns into concrete: an American city has discovered how to recycle glass locally using a solar-powered truck that crushes five tons of bottles per day in a local circular economy project.

Soot from rocket launches remains in the atmosphere for years and has a climate impact 540 times greater than pollution emitted near the Earth’s surface. Mega constellations like Starlink will account for 42% of the space sector’s climate impact by 2029.

Brazil and the USA create a working group to negotiate tariffs and end Section 301 after a meeting between Lula and Trump at the White House, and representatives from both countries have already met via videoconference with a 30-day deadline.

NASA plans a network of fuel stations in space that could reduce the cost of missions to the Moon and Mars. A satellite will be launched by a Rocket Lab rocket and will test technology that allows spacecraft to be refueled in orbit instead of carrying all the fuel from Earth.

Russia and China advance on a gas pipeline of more than 2,500 kilometers that will carry gas from Siberia to northern China; Putin’s visit to Beijing is also expected to result in an agreement to facilitate payments in ruble and yuan between the two countries.

Honda launches Elevate cheaper than Honda HR-V, Toyota Corolla Cross, Hyundai Creta, Jeep Compass, and Volkswagen Taos in Brazil, with a 1.5 i-VTEC engine of 121 hp, manual or CVT transmission, and Honda Sensing; SUV shows a simpler, more rational, and accessible global Honda in India.

Petrobras Faces Challenges in Selling Recôncavo

With Low Exploration and Production Activity in the Area, Petrobras Has Been Trying to Sell Mature Fields in Recôncavo for Two Years, but Has Encountered Difficulties

Production Decline

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

While a traditional school may take several days just to raise walls, in Malawi a 3D-printed school had its structure ready in 18 hours, welcomed children in June, and showed a new solution to the lack of classrooms.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

Empty beer bottle turns into sand, and the sand turns into concrete: an American city has discovered how to recycle glass locally using a solar-powered truck that crushes five tons of bottles per day in a local circular economy project.

A building that looks like an inverted ship draws attention in São Paulo: the Hotel Unique, with 84 meters, round windows, exposed concrete, and a red pool on top.

A building that looks like an inverted ship draws attention in São Paulo: the Hotel Unique, with 84 meters, round windows, exposed concrete, and a red pool on top.

New wave energy machine is placed in the sea in Spain and promises to convert wave motion into electricity during offshore tests

New wave energy machine is placed in the sea in Spain and promises to convert wave motion into electricity during offshore tests

Soot from rocket launches remains in the atmosphere for years and has a climate impact 540 times greater than pollution emitted near the Earth’s surface. Mega constellations like Starlink will account for 42% of the space sector’s climate impact by 2029.

Brazil and the USA create a working group to negotiate tariffs and end Section 301 after a meeting between Lula and Trump at the White House, and representatives from both countries have already met via videoconference with a 30-day deadline.

NASA plans a network of fuel stations in space that could reduce the cost of missions to the Moon and Mars. A satellite will be launched by a Rocket Lab rocket and will test technology that allows spacecraft to be refueled in orbit instead of carrying all the fuel from Earth.

Russia and China advance on a gas pipeline of more than 2,500 kilometers that will carry gas from Siberia to northern China; Putin’s visit to Beijing is also expected to result in an agreement to facilitate payments in ruble and yuan between the two countries.

Honda launches Elevate cheaper than Honda HR-V, Toyota Corolla Cross, Hyundai Creta, Jeep Compass, and Volkswagen Taos in Brazil, with a 1.5 i-VTEC engine of 121 hp, manual or CVT transmission, and Honda Sensing; SUV shows a simpler, more rational, and accessible global Honda in India.