Petróleo Brasileiro SA (Petrobras) started production from the first two wells of the increased oil recovery (IOR) project at Roncador field in Campos basin, Brazil.
The two wells are the first of a series of IOR wells to reach production. Start-up is almost 5 months ahead of schedule and at half of the planned cost, partner Equinor Energy said in an Apr. 20 release. The wells add a combined 20,000 boe/d to Roncador, bringing daily production to about 150,000 bbl.
Through this first IOR project, the partnership will drill 18 wells which are expected to provide additional recoverable resources of 160 million bbl. Improvements in well design and partners’ combined technological experience are main drivers behind a 50% cost reduction across the first six wells, including the two in production.
Roncador is Brazil’s fifth largest producing asset and the second largest outside the pre-salt layer. It has about 10 billion bbl oil equivalent reserves and has been in production since 1999.
Petrobras is operator (75%) with Equinor (25%) entering the project in 2018 as a strategic partner (OGJ Online, June 15, 2018).
