Petrobras is expected to spend around US$6 billion on a plan to decommission platforms, underwater gas pipelines and offshore wells

In 2022 and 2023, Petrobras is expected to spend USD 1,1 billion each year, and another USD 1 billion in 2024 for platform decommissioning

According to a statement this Monday (28), Petrobras is expected to spend approximately US$6 billion on a plan to decommission platforms, underwater gas pipelines and offshore wells. This cost is estimated from ongoing projects of these assets through 2024.

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In 2020, the expected cost was 500 million dollars. The total cost is expected to rise to $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 estimates an inflow of US$1 billion in cash from divestments in 2020, after having received US$14,4 billion last year.

The term is defined by the National Petroleum Agency (ANP) as follows: “Decommissioning is the set of legal actions, technical and engineering procedures applied in an integrated manner to an Offshore system in order to ensure that its decommissioning 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 working in the areas, such as civil, maritime and naval engineers, as well as project management, topography, professionals in the various areas dedicated to the environment, waste management, recycling, catering and maritime support.

According to the consultancy Wood Mackenzie, the decommissioning market could attract from US$90 billion to US$100 billion over the next 10 years. Brazil, even due to the characteristics of our platforms in which 45% are over 25 years old, could turn over US$9 billion over the next 10 years. And all this opens up an opportunity for economic action.