Total has announced that it has taken the investment decision for the first large-scale development phase of the Libra project, located deep offshore, 180 km off the coast of Rio de Janeiro, in the pre-salt area of the Santos Basin in Brazil.
This phase, consisting of a floating production storage and offloading (FPSO) unit with a production capacity of 150 000 bpd and 17 wells, will be deployed in the Northwestern part of the block.
“The decision to launch the large-scale development of the Libra field is a major step for Total in Brazil. We have worked with Petrobras, the operator, and our partners to secure technical costs below US$20/bbl. This proves that we are capable of developing competitive deep offshore projects”, declared Arnaud Breuillac, President Exploration & Production of Total. “Following startup of the Early Production System in November, this investment decision further strengthens our portfolio of projects under construction and feeds our production growth post-2020.”
First oil started flowing from the Libra field in November with the start-up of the Pioneiro de Libra, a 50 000 bpd FPSO early production phase to further appraise the field and generate early revenue. As the next step in the field development, the new “Mero 1” FPSO is expected to come on stream in 2021. In the coming years, this development will continue with the addition of at least three other FPSO’s to fully exploit the potential of the field, with a production that should reach more than 600 000 bpd per day.
The Libra Consortium is led by Petrobras (40%) in partnership with Total (20%), Shell (20%), CNOOC Limited (10%) and CNPC (10%). Pré-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.
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