Technology Can Help Reduce Production Costs

Source: www.gulfoilandgas.com 10/30/2013, Location: South America

Petrobras’ Director for Exploration and Production, Jose Formigli, stressed the importance of developing offshore technology and the ability to manage risk in large projects that, in his view, should not only focus on exploration, but mainly on production. The aim is to reduce the ‘time to first oil’ and the total cost to extract offshore oil and gas.

"It is important to have access to reserves, technology and the adequate mechanisms to manage production to be competitive" said the Director during the Offshore Technology Conference (OTC Brazil 2013), in Rio de Janeiro.

During the panel session "Perspectives on E&P in the South Atlantic" Formigli analyzed the history of the geological formation of the pre-salt off the Brazilian coast, which started about 124 million years ago when the American and African continents separated.

From experience in the pre-salt Santos Basin and the geological similarity with the west coast of Africa, Petrobras studies potential areas in Angola, Nigeria, Gabon, Namibia and Benin on the other side of the Atlantic.

The company now produces 30,000 barrels of oil per day in Nigeria and Angola, and the results of work on the African coast also helps understand how to read the geology of the Brazilian equatorial margin.

The Director talked about the 40% stake recently acquired by Petrobras in Libra block saying that "it was an excellent acquisition, in line with our portfolio and we anticipate first oil in 2020”, Formigli also stressed that the post-salt projects are very important for exploration and that the company is "very optimistic" about the prospects in the Northeast.

The area called Sergipe Aguas Profundas (Deepwater Sergipe) will get the first production system in 2018, with a daily capacity of producing 100,000 barrels of oil. "We are confident that other opportunities will be identified by the exploration professionals in the Equatorial Margin", the Director concluded.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


United States >>  6/28/2022 - A privately held exploration and production company with a focus on the deepwater Gulf of Mexico ("GOM"), LLOG Exploration Company, L.L.C. ("LLOG" or ...
Argentina >>  6/27/2022 - The upstream energy firm with a focus on Latin America, Echo Energy plc, reports that AIM Regulation has given the company an extra two months to publ...

United States >>  6/27/2022 - The oil exploration, development, and production company Mosman Oil and Gas Limited ( MSMN) is happy to deliver the following operational update. ...
Canada >>  6/24/2022 - ReGen III Corp. is pleased to provide the following updates regarding its Sale, Purchase and Marketing Agreement with bp.

On May 1, 2021, ...


Iraq >>  6/24/2022 - Gulf Keystone, a prominent independent operator and producer in the Kurdistan Region of Iraq, delivers an operational and corporate update ahead of to...
Nigeria >>  6/23/2022 - ADM Energy PLC, a natural resources investing company, announces its audited full year results for the 12 months ended 31 December 2021.

I...


Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.