Petrobras is expected to propose a multi-FPSO development for the deepwater, pre-salt Santos Basin Iara area after submitting a declaration of commerciality to authorities.
The Iara area, in block BM-S-11, 214-250km off the coast of Rio de Janeiro, Brazil, contains three new separate oil and gas accumulations - due to be designated Berbigão, Sururu and Atapú West - containing 24-30 degrees API oil, according to the declaration of commerciality, submitted recently to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP), according to partner BG Group.
Galp Energia, a partner in BM-1-11 through subsidiary Petrogal Brazil, says the three accumulations, in 2215-2270m water depth, are comprised of eight fields. In 2012, Petrobras estimated that Iara contains 3-4 billion bbl.
However, due to the three accumulations extending into the nearby Entorno de Iara Transfer of Rights area, 100% operated by Petrobras, unitisation agreements will need to be decided before a development plan, which usually has to be submitted 180 days after a declaration of commerciality.
BG Group says the Iara area development is likely to require a minimum three FPSOs, adding to the 10 production units currently planned for the Lula and Iracema areas. First production is anticipated for 2017, according to BG Group's 2014 data book.
The partners will now be working on the deployment and allocation of the planned FPSOs as well as negotiating the unitisation agreements.
Exploration in the Iara area, about 250km off the coast of Rio de Janeiro, started in 2008, and included seven exploration and appraisal wells, an extended well test and 3D seismic data acquisition.
Petrobras is operator of the BM-S-11 concession, holding 65% interest, alongside BG Group (25%) and Petrogal (10%).
BM-S-11 also contains the Lula and Iracema discoveries. Lula came on stream, using an FPSO, in 2010, with Iracema due on stream this year.
BG Group is also a partner with Petrobras on the BM-S-9 and BM-S-50 Santos Basin concessions, containing Lapa and Saphinhoa, and Sagitario, respectively. Saphinoa came on stream in 2013, using an FPSO, and Lapa is due on stream in 2016, also using an FPSO. The first exploration well on Sagitario was drilled in 2013.
To date, the BM-S-9 and BM-S-11 partners have contracted 15 FPSOs to be deployed by the end of 2018.
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