Petrobras' aggregate presalt production reaches 343 million boe

Petroleo Brasileiro SA (Petrobras) reported that it reached 343 million boe in accumulated production from Brazil’s offshore presalt layer between September 2008 and April 2014. This news comes a month after the company reported surpassing 470,000 b/d in production from the Santos and Campos basins (OGJ Online, May 16, 2014).     

Anelise Lara, Petrobras’ Libra field executive manager, highlighted the company’s drilling efficiency at the World Petroleum Congress (WPC) in Moscow on June 17. "When the first well was drilled in 2006, it took 134 days from the beginning of the well to the last meter drilled. In 2013, the time was down to just 60 days,” she said.  

There are currently 9 floating production, storage, and offloading (FPSO) units operating in the Brazilian presalt, and by 2020, Petrobras expects another 24 definitive presalt production systems, producing about 2 million b/d of oil, Lara said.  

While the presalt layer today accounts for 16% of Petrobras’ total production of 2.1 million b/d of oil, in 2020 this will have grown to 53% of the total production, which by then will be 4.2 million b/d.

Petrobras also reported plans to invest $153.9 billion during 2014-18 in exploration and production, of which $23 billion will be allocated to exploration. The company will invest $6.4 billion in the presalt layer alone.   

Production will receive $112.5 billion, with $71.8 billion going toward presalt production. Infrastructure investments will total $18 billion.

Adding $44.8 billion in investments from Petrobras’ partners, total spending on exploration and production during that period will reach $198.7 billion.

Related Articles

Total joins global climate initiatives

11/20/2014 Total SA, in what it describes as a consolidation of its efforts to address climate change, will support initiatives of the United Nations Global C...

IHS: ‘Tight-oil test’ under way in US amid lower oil prices

11/20/2014 The vast majority of potential US tight-oil production growth remains economical in the current crude oil price environment, according to a recent ...

Maersk Oil lets contract for Culzean field development

11/20/2014

Maersk Oil North Sea UK Ltd. has let a multimillion-pound contract to DNV GL for the Culzean field development project in the UK North Sea.

Apache to sell Louisiana, Anadarko assets for $1.4 billion

11/20/2014 Houston independent Apache Corp. has agreed to sell noncore southern Louisiana and certain Anadarko basin assets in two separate deals for a combin...

NOIA, API studies list benefits of more federal OCS leasing

11/19/2014 Offshore oil and gas leasing in the eastern Gulf of Mexico and on the US Atlantic and Pacific coasts could create more than 838,000 American jobs a...

National Forest in Va., W.Va., leaves fracing to state governments

11/18/2014 The George Washington National Forest in Virginia and West Virginia will allow some oil and gas activity using hydraulic fracturing and horizontal ...

Deloitte: US gas supplies rebuilt since last winter, EIA’s Sieminski says

11/18/2014 The biggest issue this winter could be electricity generation in New England because of pipeline constraints rather than a drawdown of stored natur...

Eni signs PSA addendum to extend E&P work in Turkmenistan

11/18/2014 Eni SPA has signed an addendum to the production-sharing agreement (PSA) it has with Turkmenistan with respect to the onshore Nebit Dag block in we...

Cenovus receives approvals for Telephone Lake oil sands project

11/18/2014 Cenovus Energy Inc., Calgary, has received approval from the Alberta Energy Regulator (AER) and the province of Alberta for its wholly owned Teleph...

White Papers

How to Keep Your Mud System Vibrator Hose from Getting Hammered to Death

To prevent the vibrating hoses on your oilfield mud circulation systems from failing, you must examine...
Sponsored by

Duty of Care

Good corporate social responsibility means implementing effective workplace health and safety measures...
Sponsored by

Increase Equipment Uptime Through Robust Enterprise Asset Management

Whether you operate in the Upstream Drilling and Exploration sector, the Midstream distribution sector...
Sponsored by

Continuous Improvement for Maintenance with Robust Reporting and Analytics

You should have real-time, anywhere access to more relevant and comprehensive data to help manage and ...
Sponsored by

Enterprise Asset Management Solution for Movable Assets in the Oil & Gas Industry

Drilling and exploration companies face several challenges in effectively managing assets both offshor...
Sponsored by

Supporting HSE Needs for Oil & Gas Through Effective Asset Management Practices

The Oil & Gas industry is constantly being challenged to find, extract and deliver cheaper an...
Sponsored by

Sesam for subsea design analysis

With the exponential growth in the subsea sector, a new set of challenges now face the industry. Mostl...
Sponsored by

Is the gas delivery system you’re looking at able to meet your power generation needs: a hydraulic engineer’s perspective

The hydraulic characteristics, and system response to demands and supplies, of natural gas pipelines a...
Sponsored by

Available Webcasts



Optimizing your asset management practices to mitigate the effects of a down market

When Thu, Dec 11, 2014

The oil and gas market is in constant flux, and as the price of BOE (Barrel of Oil Equivalent) goes down it is increasingly important to optimize your asset management strategy to stay afloat.  Attend this webinar to learn how developing a solid asset management plan can help your company mitigate costs in any market.

register:WEBCAST



On Demand

Parylene Conformal Coatings for the Oil & Gas Industry

Thu, Nov 20, 2014

In this concise 30-minute webinar, participants have an opportunity to learn more about how Parylene coatings are applied, their features, and the value they add to devices and components.

register:WEBCAST


Utilizing Predictive Analytics to Optimize Productivity in Oil & Gas Operations

Tue, Nov 18, 2014

Join IBM on Tuesday, November 18 @ 1pm CST to explore how Predictive Analytics can help your organization maximize productivity, operational performance & associated processes to drive enterprise wide productivity and profitability.

register:WEBCAST


US HYDROCARBON EXPORTS Part 3 — LNG

Fri, Nov 14, 2014

US LNG Exports, the third in a trilogy of webcasts focusing on the broad topic of US Hydrocarbon Exports.

A discussion of the problems and potential for the export of US-produced liquefied natural gas.

These and other topics will be discussed, with the latest thoughts on U.S. LNG export policy.

register:WEBCAST


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