Petrobras Plans to Have 10 FPSOs in the Búzios Field by 2030

Statement Was from the CEO of Petrobras Who Guaranteed the Planning of 5 More FPSOs Added to the 5 That Are Already Underway to Be Installed in the Asset

The Búzios field was by far the highlight of the auctions held on the 6th and 7th. It’s no wonder that Petrobras, through its CEO of Exploration and Production, Carlos Alberto Oliveira, declared that a total of 10 FPSOs will be installed by the end of the next decade in the asset.
In total, Petrobras estimates that 60 new platforms will be needed to produce oil from the areas auctioned in the bids.

FPSOs

The Búzios field already has four FPSOs and a fifth is expected to be installed in the asset by the second half of 2022. The asset was offered in the auction of the onerous assignment excess on November 6, and Petrobras exercised its right of preference, winning the bid with an offer of R$ 68.19 billion (R$ 61 billion from the state-owned company and the remaining R$ 7 billion from the Chinese).

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According to the Petrobras director, the five new FPSOs to be installed could be even larger than those already installed (150,000 barrels per day) and have the capacity to process 200,000 barrels per day.

The Búzios field had the highest bonus in history among the fields auctioned in the production sharing rounds and was contracted without competition and without a premium by the consortium formed by Petrobras (90%) and CNODC (5%) and CNOOC (5%) that made the proposal for the asset and to supply the union with 23.24% of the oil profit through envelope No. 6.

Although Petrobras’ financial situation raises concerns, the executive assured that it will not sell part of the asset to balance its accounts after the investment made.

The Búzios field is located in the central portion of the Santos basin, about 180 km off the coast of the municipality of Rio de Janeiro at a water depth of approximately 1,900 m.
The asset has estimated reserves of 29.889 billion barrels of oil and 1.101.988 billion cubic meters of natural gas.

Read Also! After Failure in Negotiations with Exxon, Petrobras Became Isolated in Auctions, Sources Say!