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Petrobras postpones entry into operation of platforms, but maintains production targets

Written by Bruno Teles
Published 24/04/2023 às 14:58
postponement of the entry into operation of three production systems - Petrobras
postponement of the entry into operation of three production systems – Petrobras (photo/publicity)

Petrobras recently announced the postponement of the entry into operation of three production systems (FPSOs), in relation to the forecasts published in its Strategic Plan 2023-27.

However, the state-owned company emphasized that it does not expect an impact on its oil and gas production targets. The FPSOs in question are Búzios platform 7, with a capacity of 225.000 barrels of oil/day, Integrated Parque das Baleias (IPB), with 100.000 barrels of oil/day, and Búzios 10, with 225.000 barrels of oil/day. The start-up forecast was postponed by one year for each platform, with Búzios 7 and IPB now expected to start in 2025 and Búzios 10 in 2027.

A Petrobras highlighted that, considering the company's consolidated portfolio of assets and projects, no impacts are expected on the oil and natural gas production disclosed. In the 2023-27 Strategic Plan, the company set the target of reaching 3,1 million barrels of oil and gas equivalent per day in 2027, compared to 2,6 million estimated for 2023.

It is important to point out that the Petrobras goals consider a variation of 4% more or less. With the postponements of the platforms, the company still has a reasonable amount of time to reach its previously established goals.

Ministry of Mines and Energy requests information on projects

In the same statement, Petrobras informed that the Ministry of Mines and Energy requested information on the company's projects to subsidize the preparation of the new Growth Acceleration Program (PAC). The state-owned company forwarded information on the current portfolio of investment projects in the implementation phase, in the areas of Exploration and Production (E&P), Refining, Transport and Marketing (RTC), Gas and Energy (G&E) and Renewables.

According to Petrobras, all these projects are foreseen in its Strategic Plan 2023-27, including exploratory projects of the Equatorial Margin or biorefining, even if in the planning phase.

Postponement amid expansion plans

The postponement of the entry into operation of the platforms occurs in the midst of Petrobras' expansion plans. At the end of 2021, the company released its Strategic Plan 2023-27, which foresees investments of US$ 55 billion, mostly for the oil and gas exploration and production.

The plan also includes sale of some companies controlled by Petrobras, such as BR Distribuidora and Liquigás. The sale of these assets is part of the company's strategy to reduce its debt and focus on areas considered more strategic, such as exploration and production of oil and gas.

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Bruno Teles

I talk about technology, innovation, oil and gas. I update daily about opportunities in the Brazilian market. With more than 3.000 articles published in CPG. Agenda suggestion? Send it to brunotelesredator@gmail.com

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