Petrobras declares 19 oilfields viable

Dec 29, 2006 01:00 AM

Petrobras has sent Commercial Viability Statements relative to 19 new areas (16 offshore and 3 onshore) in the Espirito Santo, Campos, and Santos Basins to the National Petroleum, Natural Gas, and Biofuel Agency (NPA). A few of them have become new oil and/or natural gasfields, while others have been incorporated into existing neighbouring fields.
Although the 19 areas are still subject to more detailed technical assessments for the area development process, it is estimated that Petrobras' share of the recoverable volumes will top-out at some 2.1 bn boe of oil and gas in the three basins.

Three areas Petrobras operates in the old BS-500 block, in the Santos Basin, were declared commercially viable, resulting in the Tambuata, Pirapitanga and Carapia oil and natural gasfields, while one area in the old BS-400 block was annexed to Mexilhao Field. It is estimated there are recoverable volumes of some 560 mm boe in these areas.
Four new offshore and three new onshore areas have been defined in the Espirito Santo Basin, all of which operated by Petrobras. The new Carapo and Camarupim gasfields, and two other natural gas and light oil areas that will be annexed to the Golfinho and Canapu fields, have been declared commercially viable. It is estimated there are recoverable volumes of some 168 mm boe in these areas.

Three new fields, Saira, Seriema, and Tabuiaia, have been defined onshore. Although they have slightly more modest volumes compared to the basin's offshore portion, these finds are nonetheless greatly important to maintain the Espirito Santo Basin's onshore production.
Eight new areas have been declared commercially viable in the Campos Basin: The Maromba field, in the old BC-20 block, operated by Petrobras in association with Chevron; the Caratai and Carapicu fields, in the old BC-30 block; and, in the old BC-60 block, the Catua, Cacharel, Manganga, and Pirambu fields, in addition to one area to be annexed to the Baleia Azul Field.

The recoverable volumes are believed to top-out at about 1.37 mm boe there. The new discoveries show the precision of the company's exploratory program. Petrobras has a diversified concession, technology and investment portfolio, over and beyond a qualified technical staff, which allows it to increase both oil and natural gas reserves and production on an ongoing basis.
In the old BS-4 block, in the Santos Basin, facing the Rio de Janeiro coast, Shell, as the operator, declared two new fields commercially viable. Petrobras holds 40 % of the rights for these fields.

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