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November 3, 2021updated 28 Apr 2022 5:43am

Buzios VII (Franco) Conventional Oil Field, Brazil

By Carmen

Buzios VII (Franco) is a conventional oil development located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. Buzios VII (Franco) lies in block Buzios, with water depth of around 6,890 feet.

The project is currently in construction stage and is expected to start commercial production in 2025. The development cost is expected to be $4,641 m. The Buzios VII (Franco) conventional oil development will includes FPSO.

Field participation details

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


Production from Buzios VII (Franco)

Production from the Buzios VII (Franco) conventional oil development project is expected to begin in 2025 and is forecast to peak in 2027, to approximately 1,71,098 bpd of crude oil and condensate and 67 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2053.


Remaining recoverable reserves

The field is expected to recover 693.65 Mmboe, comprised of 651.07 Mmbbl of crude oil & condensate and 255.48 bcf of natural gas reserves.


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

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

Main EPC: Eni, Keppel and Schlumberger

EPC Contractors: Hyundai Heavy Industries Holdings

Other Contractors: ShawCor, Siemens Energy and TechnipFMC

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.

Related Companies

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