Petrobras Reached a Production of 1B Barrels in the Pre-Salt

Source: www.gulfoilandgas.com 12/14/2016, Location: South America

Petrobras , with their partners, celebrate a historic brand: a total of 1 billion barrels of oil produced in the pre-salt. This accumulated production occurs only six years after the entry of the first production system in the Santos Basin, in the Lula field, and ten years after the first discovery in 2006, and demonstrates the company's technical and performance capacity.

This performance is unique in the world history of offshore oil production. Compared with other major oil areas in the world, in the American portion of the Gulf of Mexico, this level was reached 14 years after the beginning of commercial production and in the North Sea in eight years. In Brazil, this same level was only achieved in the Campos Basin after 15 years of commercial production.

To celebrate the result, our president, Pedro Parente, our Executive Director of Exploration and Production, Solange Guedes, and our Executive Director of Production and Technology Development, Roberto Moro, embarked on the FPSO Cidade de Itagua?, located in the area of ??Iracema Norte , In the pre-salt of the Santos Basin, to participate in a solemnity in commemoration of the reached level. They honored some of the pioneers in the discovery and development of the pre-salt, in recognition of the contribution of the other thousands of contributors who made this outcome possible.

President Pedro Parente highlighted the importance of people in the journey that led to 1 billion barrels. "It's a moment of homage to a brave team that believes in what it does. It is a fair tribute to those who have made the success that this company is. Discovering and producing oil in the pre-salt was a gesture of faith and overcoming challenges. And believing is a key word to overcome the challenges that lie ahead. We are experiencing a turning point and we have no doubt of our immense capacity for achievement. I am very moved by the greatness of what is happening here today, "said the president.

The Executive Director of Exploration & Production, Solange Guedes, stressed the importance of telling this story. "To reach 1 billion barrels in just six years in ultra-deep waters is a unique accomplishment." It's not just any company that can tell that story, I'm glad we can celebrate this milestone and honor the people who were part of it. , So we need to remember them and deliver new stories to be told again in the future, and this story is told by people, whether here at Petrobras or outside the company, "he said.

Representing the employees, the engineer Humberto Americano Romanus, from the area of ??Safety, Health and Environment, highlighted the dedication that has led us to this historic brand. "It is a great privilege to represent the people who have been part of this story: they are women and men who devote themselves day and night to fulfilling the company's goals." It is a very important job that is done here on the edge. Here today.Thank you all and let's go ahead, safely. "

Ten years after the first commercial discovery in that province, pre-salt has become one of the most competitive producing regions in the world. The area has average productivity above the global industry in offshore fields - reaching 25,000 barrels per day per well in some cases, productivity 30% higher than in 2010 - which leads to the need to interconnect fewer wells per production system .

Pre-salt oil production is very important for the company's financial recovery. It is a large-scale production of high quality petroleum for refining and with an extraction cost of less than US $ 8 / barrel. Today, with the contribution of only 11 dedicated systems, nine in the Santos Basin and two in the Campos Basin, the pre-salt already accounts for almost 50% of our operated production and for about 35% of our own production. Between 2017 and 2021, 16 new large production systems will be put into operation in the pre-salt.

Route 2 - also recorded another important result in the pre-salt. On November 15, the Rota 2 pipeline reached the mark of 2 billion cubic meters of gas exported, only nine months after the start of its operation, in February of this year. Rota 2 is the largest gas pipeline in the country and connects the pre-salt production systems of the Santos Basin to the Cabi?nas Gas Treatment Terminal in Macaé (RJ). On a daily basis, this pipeline network exports an average of 12 million cubic meters a day to the terminal, accounting for 70% of the gas drained in that province.

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