Petrobras finds more oil in Buzios

Petrobras has found oil in well 9-BUZ-48D-RJS drilled in the Santos Basin’s Búzios field. 

The well is located 188 km off the coast of the city of Rio de Janeiro at a water depth of 1,850 meters. According to the Brazilian oil major, tests carried out at a depth of 5,540 meters confirmed the presence of great quality oil, adding that the discovery reinforces the pre-salt potential of the Búzios field. 

With output of 564,000 b/d of oil and 22,700 m³/d of natural gas in October 2020, Búzios is Brazil’s second largest producing field. Extraction is carried out via platforms P-74, P-75, P-76 and P-77. 

That said, Buzios is expected to overtake the Tupi field (formerly Lula) as Petrobras looks to install up to eight FPSOs over the years to come. 

Petrobras’ strategic plan foresees the Búzios project absorbing 36% of the company’s US$46 billion in exploration and production CAPEX for 2021-2025. 

According to ANP data, Petrobras had found 13 traces of hydrocarbons in Búzios from March 2010 through June 2020, at water depths ranging from 1,770 to 2,100 meters. 

Petrobras is the operator of the Búzios consortium with a 90% stake, in partnership with CNOOC (5%) and CNODC (5%).

Source: Yahoo Finances