Perenco begins work to revitalize Campos basin oil concessions
Key Highlights
- The project covers reactivation of platforms, water treatment systems, and flowlines, with work under way on PCH-1 and PCH-2 platforms.
- A new 27-km pipeline will connect PCH-1 to the Pargo platform and FSO.
- Well interventions include 21 workover campaigns.
- The total redevelopment budget is about $250 million, targeting mid-term production of 15,000 b/d.
Perenco Brazil started reactivating the Cherne and Bagre concessions in Campos basin 73 km offshore Brazil following the August 2025 acquisition from Petróleo Brasileiro SA (Petrobras).
The concessions lie about 30 km from the Perenco-operated Pargo cluster in 108-150 m of water and were hibernated in 2020 ahead of Petrobras' plan for decommissioning.
The 2-year reactivation program, designed to build upon Pargo oil production to reach a total 35,000 b/d, will be completed in stages. The first step, already under way, aims to revitalize the PCH-1 and PCH-2 platforms, systems, and associated equipment in preparation for production restart.
Work includes replacement or renovation of turbines and water treatment systems, modernization of metering systems, and maintenance or replacement of the upper deck flowlines.
Phase two includes installation of a new 27-km, 10-in. OD pipeline connecting PCH-1 to the Pargo platform, and from there to the Pargo floating storage and offloading vessel (FSO) through the existing export line. As part of the upgrade to the water injection system, Perenco also will install a water injection line between the PCH-1 and PCH-2 units.
The third stage will focus on well interventions and re-entries to enable production restart with 36 wells set to come back onstream. Work includes 21 workover campaigns and further evaluation for the best application of gas lift or ESP methods, the company said.
The 2025-2027 capital budget for redevelopment of Cherne and Bagre is about $250 million. Mid-term production of about 15,000 b/d of oil is expected. The revitalized fields are expected to access more than 50 million bbl of reserves, the company said.