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April 28, 2022

Lula Oeste Conventional Oil Field, Brazil

By Carmen

Lula Oeste is a conventional oil development located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. Lula Oeste lies in block BM-S-11 (Tupi), with water depth of around 7,218 feet.

The project is currently in construction stage and is expected to start commercial production in 2023. The Lula Oeste conventional oil development will includes FPSO.

Field participation details

The field is owned by Galp Energia SGPS, Pre-Sal Petroleo, China Petrochemical, Shell and Petroleo Brasileiro.


Production from Lula Oeste

Production from the Lula Oeste conventional oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 1,39,854 bpd of crude oil and condensate and 100 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2061.


Remaining recoverable reserves

The field is expected to recover 919.65 Mmboe, comprised of 826.67 Mmbbl of crude oil & condensate and 557.89 bcf of natural gas reserves.


Contractors involved in the Lula Oeste conventional oil field

Some of the key contractors involved in the Lula Oeste project as follows.

Other Contractors: Baker Hughes, Hempel, Honeywell International, Metroval and Oceanica Engenharia Consultoria e Projetos

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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