Brazil’s National Petroleum Agency (ANP) granted a 27-year extension to Petróleo Brasileiro (Petrobras) for two concession contracts in the Campos basin, offshore Brazil that will lead to the drilling of 10 new wells.
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Image from Petrobras. |
The extensions for the Marlim and Voador fields, which were originally scheduled end date in 2025, will now continue until 2052.
According to Petrobras, the extensions will ensure the maximum utilization of the existing reserves with revitalization projects in the two fields that provide for the installation of two new platforms, together with expanded water injection and fluid processing capacity, and the drilling of 10 new wells.
In March, Marlim was the fifth largest producer, producing 150,000 b/d and 2 MMcm/d of gas. Voador’s well, which are interconnected to Marlim’s platform, produced 1520 b/d, and some 38,000 cu m of natural gas.
The extension of the Marlim and Voador production phase was in line with Resolution 2/2016 issued by the National Energy Policy Council (CNPE), which authorized the Agency to extend the concession agreements entered into in Round Zero, in 1998, Petrobras said.
In OE’s May issue, Quest Offshore’s Caitlin Shaw said that Petrobras is expected to drill less than 10 wells this year.
“In Brazil, Petrobras will likely use what limited funds they have to develop pre-salt. Less than 10 exploration wells are expected to be drilled in Brazil in 2016,” Shaw said.
In March, Petrobras recorded its largest net quarterly loss in its history, at US$10.2 billion.
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