Daily Newsletter

06 September 2023

Daily Newsletter

06 September 2023

Brazil’s Petrobras plans to install 11 new offshore platforms by 2027

With the new projects, Petrobras’ total daily production is expected to reach 3.1 million barrels of oil equivalent per day in 2027.

Archana Rani September 05 2023

Brazilian state-owned oil and gas company Petrobras is planning to install 11 new production platforms in the Brazilian pre-salt layer by 2027.

The company also plans to invest $64bn (315.99bn reais) in exploration and production activities as part of its Strategic Plan for 2023–27.

Petrobras plans to deploy six new platforms at the Búzios field and three at the Mero field.

It will also install one platform at the Jubarte field while one production platform will be for the Albacora revitalisation project.

The new projects, together with the existing operational units, are expected to increase Petrobras’ total daily production capacity to 3.1 million barrels of oil equivalent per day (mboed) in 2027.

In a press statement, Petrobras said: “As for the operated production (Petrobrás + partners), it is estimated that the volume produced in the pre-salt layer will reach 3.6mboe in 2027.”

In a separate announcement, Petrobras has decided to halt the sale of some assets including the Urucu cluster, Bahia Terra cluster, the Manati field and its Argentina subsidiary Petrobras Operaciones.

The decision follows a thorough review of the company’s divestiture procedures initiated by the previous administration of the country, reported Reuters.

Petrobras started the process to sell its non-core assets to focus on deepwater oil exploration and cut its debt.

However, Petrobras said its new policy for the oil exploration and production segment is based on maximising “the value of the portfolio with a focus on profitable assets, restoring oil and gas reserves, including by exploring new frontiers, increasing the supply of natural gas and promoting the decarbonisation of operations".

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