P-43 FPSO producing off Brazil; P-48 due

Peter Howard Wertheim
OGJ correspondent


RIO DE JANEIRO, Feb. 2 -- Petróleo Brasileiro SA (Petrobras), Brazil's state oil company, started production Dec. 22 from its P-43 floating production, storage, and offloading vessel (FPSO) off Brazil.

It expects the P-48 FPSO to start producing oil by mid-March. The vessels each have the capacity to produce 150,000 b/d of oil and 6 million cu m/day of natural gas.

The FPSOs form part of the $2.5 billion Barracuda-Caratinga project in the deepwater Campos basin off Rio de Janeiro state. Technical and financial problems have delayed production expansion in the basin, leading to late delivery of the FPSOs, said Guilherme de Oliveira Estrella, Petrobras exploration and production director. The project initially was scheduled to begin in 2003.

The P-48 currently is moored in Caratinga field in the Campos basin while connections are being made to the 12 wells it will operate, said Estrella.

Following 11 years of production growth averaging 8.6%/year, Petrobras's production declined by 3% in 2004.

Production from the Barracuda-Caratinga project was supposed to offset output declines in other wells and maintenance stoppages in other production units.

Nevertheless, the Campos basin accounted for 80% of Petrobras's 2004 Brazilian oil output, which averaged 1.5 million b/d (OGJ, Aug. 9, 2004, p. 37).

Related Articles

Chevron, YPF to continue Vaca Muerta development

04/10/2014 Chevron Corp. and YPF SA, Buenos Aires, will continue development of Argentina’s Vaca Muerta shale formation. Chevron says it will build off the pr...

MARKET WATCH: NYMEX oil price jumps on EIA’s reduced oil production forecast

04/09/2014 The benchmark US crude oil futures price jumped more than $2/bbl on Apr. 8 after the US Energy Information Administration released a report saying ...

Statoil’s oil sands production saw slight decline in 2013

04/08/2014 Statoil ASA reported a slight decrease in its oil sands production in 2013 because of a planned multiweek plant shutdown for facility maintenance a...

Oil-price patterns—1: Oil prices reflect uneven growth rates of global demand and supply

04/07/2014

The price of oil rose from below $30/bbl to more than $145/bbl (all in money of the day) between 2004 and 2008. This was unprecedented.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected