Petróleo Brasileiro S.A.’s (Petrobras) liquids production is expected to grow to 2.7 million bpd by 2021.
Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects.
ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round.
The move is a response to increasing demands for ship-to-ship transfers to support Brazil’s soaring oil exports.
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.
The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both parties through the application of Statoil’s expertise in improved oil recovery (IOR).
In the declaration sent to the regulatory agency, it was suggested that the new field should be named Mero, and the field’s total recoverable volume is estimated at 3.3 billion bbls of oil.
The total amount of the operation is US$ 54.5 million and will be paid on the closing date of the deal.