Buzios III (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 8,203 feet.
Field participation details
The field is owned by Petroleo Brasileiro, China National Offshore Oil and China National Petroleum.
Production from Buzios III (Franco)
The Buzios III (Franco) conventional oil field recovered 10.61% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 171.37 thousand bpd of crude oil and condensate and 1 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2068. The field currently accounts for approximately 4% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 941.02 Mmboe, comprised of 940.29 Mmbbl of crude oil & condensate and 4.35 bcf of natural gas reserves. Buzios III (Franco) conventional oil field reserves accounts 0.20% 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.
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.