Buzios V (Franco) is a conventional oil development 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, lies in block BM-S-11 and Buzios, with water depth of around 6,609 feet. Buy the profile here.

The project is currently in commissioning stage and is expected to start commercial production in 2023. The development cost is expected to be $2,158 m. The Buzios V (Franco) conventional oil development will involve the drilling of approximately 15 wells and includes FPSO and subsea trees.

Field participation details

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

Production from Buzios V (Franco)

Production from the Buzios V (Franco) conventional oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 146,536 bpd of crude oil and condensate and 57 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2048.

Remaining recoverable reserves

The field is expected to recover 882.33 Mmboe, comprised of 825.65 Mmbbl of crude oil & condensate and 340.06 bcf of natural gas reserves.

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

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

Design/FEED Engineering: DORIS Engineering

Main EPC: Eni and Mitsui E&S Holdings

EPC Contractors: Keppel

Other Contractors: Schlumberger, Baker Hughes, ShawCor, The Techint Group and OMNI Taxi Aereo

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 V (Franco) Conventional Oil Field, buy the profile here.


GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.