With the Aim of Revitalizing Its Onshore Fields, the State Company Needs Companies That Hold the Technology for This Purpose
Schlumberger and Halliburton, giants providing services in the oil exploration sector, are competing for a bid launched by Petrobras in May of this year for technological development for the revitalization of onshore fields, more specifically in the Potiguar Basin, in the Canto do Amaro pole, located in Rio Grande do Norte. According to the contractual notice, the duration of the operations will be 15 years, aiming to extract as much as possible from these assets, maximizing the oil recovery percentage, since these fields are also mature.
According to Petrobras, the winning company will be compensated based on the results that its technologies bring in return to the state company. It is worth noting that besides Schlumberger and Halliburton, other companies may participate in the bidding.
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The press office of Petrobras told Reuters on July 5 that this is the first time it is using this type of business, the provision of services considering that the technology investment could set new precedents for this standard in the future.
The winning company will bear all the costs of the operations and maintenance of the wells it drills, including abandonment. But despite this, Petrobras will remain the owner of these fields as the operator and will handle the other costs of production activities. This new business methodology could increase the state company’s cash flow and maximize productivity in mature fields, without putting its already scarce capital at risk these days.
Reuters announced that both Schlumberger and Halliburton are already preparing proposals for this project, but they did not comment on details regarding it. The two service providers currently hold the best expertise in this market niche, in addition to winning several international awards.
Update – On August 19, 2018, Petrobras reported that it will produce the Urucu onshore oil field in the Amazon Basin for more than 30 years.
Petrobras States That There Will Be Production for More Than 30 Years in Urucu

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