Petrobras begins IOR works offshore Brazil
Brazil 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.
Recent Posts
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule enters Namibia’s Orange Basin
Azule Energy and Rhino Resources will enter a strategic farm-in agreement for Block 2914A located in Namibia's offshore Orange Basin,… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More