Búzios Field Hits 1 Billion Barrels of Oil Production Offshore Brazil

Thursday, April 18, 2024

Petrobras, in a consortium with CNOOC, CNODC, and PPSA, has marked a new milestone with the Búzios field, which has reached 1 billion barrels of oil (bbl) produced since the start of operations in 2018.

The milestone was reached on March 31, adding up the production of the five operating units in the world's largest ultra-deepwater field - the FPSOs P-74, P-75, P-76, P-77, and Almirante Barroso.

The new production systems to be installed over the next few years are expected to enable the field's capacity to rise to around 2 million barrels of oil per day by 2030, Petrobras said.

In June 2023, Búzios had already recorded accumulated production of 1 billion barrels of oil equivalent - which considers oil in barrels plus gas production converted to barrels of oil equivalent (boe).

"This is not just an impressive figure. This achievement results from the collective work of many people in the most diverse teams, together with the innovation in ways of doing things, which is a Petrobras hallmark.

“In addition to the use of state-of-the-art technologies developed to increase the efficiency of the reservoirs. We work hard to achieve this goal: to produce responsibly, safely, and profitably," said Petrobras' Exploration and Production Director, Joelson Mendes.

Located 180 km off the coast of Brazil, the Búzios field began operating in 2018 and has collected positive results, as well as the most productive wells in the country, at a depth of more than 2,000 meters.

Categories: Industry News Activity Production South America Oil and Gas

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