Buzios III (Franco) is a producing conventional oil field located in ultra-deepwater in Brazil and is operated by Petroleo Brasileiro. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block BM-S-11 and Buzios, with water depth of 8,203 feet. Buy the profile here.
Field participation details
The field is owned by China National Offshore Oil, China National Petroleum and Petroleo Brasileiro.
Production from Buzios III (Franco)
The Buzios III (Franco) conventional oil field recovered 13.79% of its total recoverable reserves, with peak production expected in 2024. The peak production will approximately 187.69 thousand bpd of crude oil and condensate and 19.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2067. The field currently accounts for approximately 4% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 1,022.14 Mmboe, comprised of 1,005.01 Mmbbl of crude oil & condensate and 102.75 bcf of natural gas reserves. Buzios III (Franco) conventional oil field reserves accounts 0.23% of total remaining reserves of producing conventional oil fields globally.
About Petroleo Brasileiro
Petroleo Brasileiro SA (Petrobras) is an integrated oil & gas company. 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.
For more details on the Buzios III (Franco) Conventional Oil Field, buy the profile here.