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.

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