Plan forecasts continued increases in Brazilian production
Petroleo Brasileiro SA’s (Petrobras) new 5-year plan (2007-11) shows Brazil’s oil production increasing to 2.374 million b/d in 2011 from 1.684 million b/d produced in 2005. It also expects production to increase further to 2.812 million b/d in 2015.
The plan forecasts gas production increasing to 70 million cu m/day in 2011 from 27.5 million cu m/day in 2006.
During 2006-11, fields coming on stream off Brazil include several light crude discoveries in the Espirito Santo basin as well as additional sections of the large fields in the Campos basin. Figs. 1 and 2 show the major oil and gas development projects contributing new production.
The new oil projects going in from 2006-11 will add 1,804 million b/d of production, while natural declines lower production to 0.57 million b/d from 1.684 million b/d in 2005. Net increase in 2011 from the 2005 production is 0.69 million bo/d.
Some major projects Petrobras lists coming on stream between 2011 and 2015 are:
- Marlim Sul P-56.
- Roncador P-55.
- Papa-Terra Modules 1 and 2.
- Marlim Sul Module 4.
- Roncador Module 4.
- Cachalote and Balaeia Franca.
- Baleia Azul.
Papa-Terra in Campos basin Block BC-20 is a mega oil field with estimated reserves of 700 million to 1 billion bbl, according to Petrobras. The field lies in 1,200 m of water.
The Cachalote, Balaeia Franca, and Baleia Azul developments are in the Espirito Santos basin, while the remainder are in the Campos basin.