Chevron proceeds with Papa Terra off Brazil

By OGJ editors
HOUSTON, Jan. 27
-- Chevron Overseas of Brazil Ltd. will proceed with the development of the Papa Terra project, its second deepwater field off Brazil.

Petroleo Brasileiro SA (Petrobras) is the project's operator and had announced in January 2009 the suspension of the development because of uncertain market conditions and excessive costs (OGJ, Jan 26, 2009, Newsletter).

Papa Terra will produce heavy 14-17° gravity oil from Block BC-20 in the southern Campos basin, about 70 miles off the coast in 3,900 ft of water.

The production facilities will include the first tension-leg well platform off Brazil. The TLP will connect to a floating production, storage, and offloading vessel that has a 140,000 bo/d production capacity.

Chevron expects production from Papa Terra to begin in 2013.

Chevron holds a 37.5% interest in the $5.2 billion Papa Terra project and estimates that the field will recover 380 million bbl of oil.

Off Brazil, Chevron started production from Frade in 2009—its first deepwater project—and also holds a 30% nonoperated interest in Maromba field, where work continues to select an optimal development plan.

In the Santos basin, Chevron holds a 20% nonoperated interest in Block BS-4, where the company continues to evaluate development plans to commercialize Atlanta and Oliva fields.

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