Petrobras begins IOR works offshore Brazil

Brazil

BRASILIA, April 21, 2022 – Brazilian NOC Petrobras and Equinor have begun production on the first two wells of an increased oil production project on the Roncador field offshore Brazil, the Norwegian partner announced on Wednesday.

The prospects raise production from the field by around 20,000 boepd to a total of 150,000 boepd.

The project will consist of 18 drilled wells and provide additional recoverable resources of 160 million barrels.

Well design and new technologies are expected to provide a 50% cost reduction across the first six wells.

Petrobras has a 75% operating interest in the licence, with Equinor holding the remaining 25% equity. The PSC lasts until 2052.

The Roncador field is estimated to contain 10 billion boe.

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