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November 26, 2021updated 27 Apr 2022 12:29pm

Buzios I (Franco) Conventional Oil Field, Brazil

By Carmen

Buzios I (Franco) is a producing conventional oil field located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. The field is located in block BM-S-11 and Buzios, with water depth of 6,746 feet.

Field participation details

The field is owned by China National Petroleum, China National Offshore Oil and Petroleo Brasileiro.


Production from Buzios I (Franco)

The Buzios I (Franco) conventional oil field recovered 12.55% of its total recoverable reserves, with peak production expected in 2023. The peak production will approximately 142.62 thousand bpd of crude oil and condensate and 86 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2038. The field currently accounts for approximately 4% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 638.96 Mmboe, comprised of 580.16 Mmbbl of crude oil & condensate and 352.84 bcf of natural gas reserves. Buzios I (Franco) conventional oil field reserves accounts 0.14% of total remaining reserves of producing conventional oil fields globally.


About Petroleo Brasileiro

Petroleo Brasileiro SA (Petrobras) is an integrated company specializing in the oil, natural gas and energy industry. Its major businesses include exploration and production, refining, marketing, trade and transportation of oil and gas. The company also conducts biofuel, natural gas, petrochemical, electricity and chemical businesses, and oil product distribution. It is a major crude oil producer and refiner in Brazil and the South American continent. It also participates in the domestic power market through investments in thermoelectric power plants and renewable energy. Through its subsidiaries and affiliates, Petrobras markets its products in North America, South America, Africa and Asia. Petrobras is headquartered in Rio de Janeiro, Brazil.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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