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April 28, 2022

Buzios XI (Franco) Conventional Oil Field, Brazil

By Carmen

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

The project is currently in feed stage and is expected to start commercial production in 2028.

Field participation details

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


Production from Buzios XI (Franco)

Production from the Buzios XI (Franco) conventional oil development project is expected to begin in 2028 and is forecast to peak in 2030, to approximately 2,16,980 bpd of crude oil and condensate and 85 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2058.


Remaining recoverable reserves

The field is expected to recover 885.66 Mmboe, comprised of 830.82 Mmbbl of crude oil & condensate and 329.07 bcf of natural gas reserves.


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

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

Main EPC: Schlumberger

Other Contractors: ShawCor

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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