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November 23, 2021updated 28 Apr 2022 5:47am

Buzios V (Franco) Conventional Oil Field, Brazil

By Carmen

Buzios V (Franco) is a conventional oil development located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. Buzios V (Franco) lies in block BM-S-11 and Buzios, with water depth of around 6,068 feet.

The project is currently in construction stage and is expected to start commercial production in 2023. The development cost is expected to be $2,482 m. The Buzios V (Franco) conventional oil development will involve the drilling of approximately 15 wells and includes FPSO and subsea trees.

Field participation details

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


Production from Buzios V (Franco)

Production from the Buzios V (Franco) conventional oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 1,46,536 bpd of crude oil and condensate and 57 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2048.


Remaining recoverable reserves

The field is expected to recover 882.33 Mmboe, comprised of 825.65 Mmbbl of crude oil & condensate and 340.06 bcf of natural gas reserves.


Contractors involved in the Buzios V (Franco) conventional oil field

Some of the key contractors involved in the Buzios V (Franco) project as follows.

Design/FEED Engineering: DORIS Engineering

Main EPC: Eni and Mitsui E&S Holdings

EPC Contractors: Keppel

Other Contractors: Baker Hughes, Schlumberger, ShawCor and Veolia Environnement

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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