Itapu (Florim) is a conventional oil development located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. Discovered in 2013, Itapu (Florim) lies in block Itapu, with water depth of around 6,553 feet.

The project is currently in construction stage and is expected to start commercial production in 2023. The development cost is expected to be $3,400 m.

Field participation details

The field is owned by Petroleo Brasileiro.

Production from Itapu (Florim)

Production from the Itapu (Florim) conventional oil development project is expected to begin in 2014 and is forecast to peak in 2024, to approximately 1,46,900 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2065.

Remaining recoverable reserves

The field is expected to recover 910.92 Mmboe, comprised of 910.92 Mmbbl of crude oil & condensate.

Contractors involved in the Itapu (Florim) conventional oil field

Some of the key contractors involved in the Itapu (Florim) project as follows.

Other Contractors: Baker Hughes and Sembcorp Marine

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.