Petrobras Plans Revitalization Projects in Campos Basin to Resume Production in Five Mature Fields

Awaiting the Installation of Production Platforms in the Marlim and Jubarte Fields, Petrobras Is Now Planning New Revitalization Projects for Five Mature Fields Located in the Campos Basin.

The oil and gas company Petrobras is advancing in its pursuit of expanding fuel production and is planning new revitalization projects for five mature fields in the Campos Basin, namely Albacora, Marlim Sul and Leste, Barracuda, and Caratinga. The company is already awaiting the installation of production platforms in the Marlim and Jubarte fields and intends to resume fuel productivity in more regions of the basin located in southeastern Brazil.

Five New Mature Fields in the Campos Basin May Undergo Revitalization Projects and Resumption of Fuel Production by Petrobras

Although the international oil and natural gas sector is experiencing significant instability due to geopolitical conflicts between Russia and Ukraine in recent months and high product prices, Petrobras continues its expansion campaign in production. Now, the company aims to carry out new revitalization projects for five mature fields in the Campos Basin to increase its daily production even more in the coming years. 

Thus, while waiting to operate three new platforms in Marlim and Jubarte as part of the Campos Basin revitalization project, the company plans to implement projects in the mature fields of Albacora, Marlim Sul and Leste, Barracuda, and Caratinga, located in the southeastern region of the country. To achieve this, the company intends to make heavy financial investments and will invest a total of US$ 16 billion over the years 2022 and 2026 in all its revitalization projects in the Campos Basin. 

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This investment plan for revitalization projects in oil and natural gas production in the Campos Basin is part of the initiative to offset the decline in productivity of mature fields that has occurred in recent years in the company’s exploration areas. Therefore, in the coming years, Petrobras aims to reach a production of 900,000 barrels per day of oil equivalent (boe/day) by 2026, compared to about 700 million boe/day recorded in 2021, thus ensuring a restructuring in the exploration segment of these fields in the country. 

State-Owned Company Already Has Platforms Planned to Start Revitalization Projects for Oil and Natural Gas Production in the Campos Basin Areas

The state-owned company is already quite advanced regarding its revitalization projects for fuel production in the Campos Basin and plans, for 2023, the commencement of operations of the Anna Nery and Anita Garibaldi platforms in Marlim. As for 2024, Petrobras’s plans include starting production of the FPSO Maria Quitéria in the Integrated Project of the Whale Park, both for the expansion of fuel production.

Additionally, the company is also seeking to recover the mature fields in the Roncador region, along with Equinor in a partnership for revitalization and resumption of oil and gas production in the region. Thus, 29 wells were approved between 2020 and 2021, and there are 20 new wells under study now, to recover the asset, and the project is currently quite advanced for fuel companies in Brazil. 

Finally, with the extension of the deadlines for the Roncador region to 2052, Petrobras analyzes with Equinor whether the platforms located in the area will be replaced by new units as is happening in Marlim or if there will be an extension of the vessels’ lifespan.