Brazil Announces Discovery of Huge Oil Fields Off Rio’s Coast

    Brazilian oil giant Petrobras announced Tuesday, December 27, the discovery of a giant oil field in Campos Basin, in the southeastern Brazilian state of Rio de Janeiro.

    Field BC-20, also called Papa-Terra, has potential reserves of between 700 million and one billion barrels of oil, almost 10% of total Brazilian reserves.

    The area, operated by Petrobras and Chevron, should enter production by the end of 2011. The oil is considered very heavy. These oils are more expensive to extract and refine than lighter oils.

    Self-Sufficiency

    When it starts up operations in January, 2006, the P-50 platform vessel will be Petrobras’ largest production unit, churning out 180 thousand barrels of oil daily.

    Besides producing petroleum, the P-50, which is a floating production, storage, and offloading unit (FPSO), built at the cost of US$ 634 million (around 1.3 billion reais), will also be capable of compressing 6 million cubic meters of natural gas and of storing up to 1.6 million barrels of oil.

    However, in order for its plan of sustained self-sufficiency in petroleum production to become a reality, Petrobras is also counting on three other production units to come on line next year: the P-54, with a 60 thousand barrel daily output, in the Jubarte Field, in the Campos Basin; the SSP-300, with a 20 thousand barrel daily output, in the Piranema Field, in Sergipe; and the Golfinho Phase One unit, with a 100 thousand barrel daily output, in the Golfinho Field, in the Espí­rito Santo Basin.

    Petrobras’ has its sights set even higher, going well beyond the goal of self-sufficiency: The company hopes to attain a daily production average of 2.3 million barrels by 2010. To achieve this target, the company has 36 major projects in the pipeline for execution between now and the end of the decade.

    These projects involve investments surpassing US$ 50 billion and will permit the start-up of platforms P-51, P-52, P-53, P-54, and P-55, each with an average daily production of 180 thousand barrels of petroleum.

    ABr, Anba

    Tags:

    • Show Comments (1)

    • Guest

      ?????
      At one point you say P-54 has À  60 thousand barrel daily output.
      On the last paragraph you say that P-54 will have 180000 average daily production.

      Furthermore, actually you produce around 1.8 millions barrels per day. Your platforms numbers P-50 to P-55 are supposed to produce each 180000 barrels per day.
      6 platforms of 180000 bpd equals to slightly over 1 million barrels per day. Added to your existing production this should equals to 2.9 millions bpd, but you expect only 2.3 millions bpd.
      Finally the addtional 1 million bpd with the 6 new platforms is just with the large platforms not even with other types of platforms or other type of extractions of oil and gas. This should add another quantity to the future production.

      But you still expect production of “only” 2.3 millions bpd while having spent money to produce well over 3millions. You will have then several iddled platforms that will have costed well over 600 millions US$ EACH !

      Bad spending, bad long term calculations !

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Brazil’s Lula in Paris for Much Pomp, Circumstance and Work

    Today President Luiz Inácio Lula da Silva is in Paris for commemorations of Brazil ...

    Green May to Fight Red April in Brazil

    Brazil’s National Agrarian Reform Plan launched by Brazilian President Luiz Inácio Lula da Silva ...

    Invaders of Brazilian Congress Are Leftist Militants

    Brazil’s Minister of Agrarian Development, Guilherme Cassel, in an interview on TV Nacional declared ...

    Brazil Goes to War on Piracy

    The battle against piracy just got some reinforcements this week with the formal establishment ...

    Lins e Silva on US TV

    US Boy Abducted to Brazil: CBS Interview Helps American Father

    Many of us were surprised last Tuesday when Sean Goldman's Brazilian family appeared on ...

    Brazil Ready to Retaliate If US Doesn’t Stop Cotton Subsidies

    The Brazilian Minister of Agriculture, Roberto Rodrigues, says he considers noncompliance by the US ...

    Alexandre Tombini

    Brazil Top Economic Authorities Deny Country Is in a Recession

    Brazil is far from stagflation, central bank chief Alexandre Tombini said, forecasting the economy ...

    Peru rains

    More than 200 Brazilian Tourists Still Stranded in Machu Picchu, Peru

    Among an estimated 2,000 foreign tourists trapped in the area around Machu Picchu in ...