Petrobras charts development hubs for Santos basin fields

Brazil’s state-owned company Petroleo Brasileiro SA (Petrobras) has big development plans for the Santos basin.The Santos Basin Business Unit’s master plan calls for $18 billion in investment in the next 10 years.The production goals for 2010-11 are 1.05 bcfd of gas and 100,000 b/d of oil, compared with 42 MMcfd and 10,000 b/d at present. The projected 1.05 bcfd is slightly more than the 990 MMcfd of gas Brazil now imports from Bolivia.Of the Santos basin’s 352,000 sq km, 43% is in water as deep as 1,300 ft and 57% is in 1,300-10,000 ft of water. Twenty-five percent of the concession areas Petrobras holds in Brazil are in the Santos basin. Petrobras and partners hold 11....

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