Petroleo Brasileiro SA (Petrobras) has submitted declarations of commerciality for three separate oil and gas accumulations in the Iara evaluation area on Block BM-S-11, 300 km offshore Brazil in 2,200 m of water in the Santos basin presalt.
Submitted to the Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP), the declarations include operator estimates of total recoverable volumes for the three fields and suggest their designations: Berbigao, Sururu, and Atapu West.
The submission follows an exploration and appraisal program of the 2008 discovery that included acquiring 3D seismic data, drilling seven wells, and performing an extended well test (OGJ Online, July 1, 2014).
Petrobras previously said that the test well’s initial production of 29,000 b/d of oil is similar to commercial-production wells in the Santos basin, indicating the area’s potential.
Because the three fields extend outside the BM-S-11 Iara concession area, into the Entorno de Iara’s transfer of rights area, 100% operated by Petrobras, they will be subject to unitization agreements (OGJ Online, May 9, 2014).
Brazilian regulations require a development plan for the fields be submitted within 180 days. ANP may extend this deadline because of the added time needed for unitization negotiations.
Petrobras expects initial development to be based on three floating production, storage, and offloading vessels. Results of further data collection could lead to additional production units.
Petrobras is operator of Iara with 65% interest. Partners are BG E&P Brasil Ltda. 25% and Petrogal Brasil SA 10%.
