Marine Technology Reporter Blogs - libra

Brazil Launches Oil Spill Containment Plan

October 23, 2013

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Finally, after much criticism from environmentalists, politicians and even from oil industry executives, the Brazilian government launches a comprehensive oil spill contingency plan. Ironically, the PNC (National Contingency Plan), is being launched one day after the giant Libra pre-salt field auction. It’s hard to understand why the PNC wasn’t announced before the Libra auction, especially if it was ready, as it must have been. The PNC plan, according to the biggest Brazilian newspaper O Globo, had been ready and shelved in a Brazilian State Department office for over one year. Interestingly, the plan was announced one day after this same newspaper alerted that the Libra field was going to be auctioned without any oil spill contingency plan ready.

Franco Pre-Salt – New Monster Play in Brazil

October 14, 2013

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The Franco pre-salt field, which is located southwest of the massive Libra field that will be auctioned in October 21st, originally had been forecast to contain 3 billion barrels boe of recoverable light oil. In light of new studies, the Franco pre-salt field is now believed to contain recoverable oil volumes equal to or superior to the Libra pre-salt field, something hovering around 10 billion barrels boe. This is excellent news for Petrobras, which is in the process of making major exploratory, production and infrastructure investments and desperately needs new capital. The reason it being excellent news has nothing to do with oil auction…

Libra Pre-salt Development

July 20, 2013

As the time for the first pre-salt bidding round approaches, solid data begins to appear related to production forecasts and assets needed for the field’s development. Brazil’s National Petroleum Agency (ANP) has confirmed that the first pre-salt bidding round will take place in October 2013 in Rio de Janeiro and the rules concerning it have already drawn criticism from potential operators. ANP maintains that these rules will not be changed and has come forth with information concerning the field’s development. According to thr ANP, Libra is expected to produce first oil in 2018, that is, 5 years after the winning consortium signs the E&P contract for Libra. This contract will be signed by November 2013.

A Monster Named Libra

June 18, 2013

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Back in 2009 I asked a good friend of my late father, who happened to be a long time Petrobras geologist, if he really knew the full potential of the pre-salt, after a while he looked up and said no not really, I know there are big fields out there, probably up to 10 billion boe in some reservoirs, possibly much more... Well, Petrobras kept on drilling and when Libra was found northeast of the Lula field (5 to 8 billion barrels boe), in 2010, the expectations ran high. Maybe 3.7 billion boe, maybe 15 billion boe. Probably 7.9, those are the numbers the ANP had in 2010. By May 2011 the ANP was downgrading it to 5 billion barrels boe.

Action Continues at the Santos Basin Deepwater Pre-Salt

June 21, 2013

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Even as Petrobras allegedly slows its exploration efforts, new discoveries are still being uncorked in the Santos Basin. While the national player announced the start up of the EWT in the Guará area in late December, yesterday a new deepwater pre-salt light oil accumulation is discovered in an adjacent area at the same BM-S-9 exploratory block. The Guara  EWT is producing through well SPS-55, and  is expected to last for five months with a daily production is estimated at 14,000 barrels of oil per day. The Guará area is located in block BM-S-9 and around 300 kilometers off the coast of São Paulo state. The recoverable O&G volumes in Guará are estimated at between 1.1 and 2 billion boe with a around 30º API.

Petrobras Shows Its Strength

September 30, 2010

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With Brazilian presidential elections imminent, and having just completed its successful shares offer, Petrobras finds itself in a privileged position with the new pre-salt legislation guaranteeing the company as sole operator of all the pre-salt blocks negotiated from the 11th bidding round onwards.Although some parts of the new legislation are still to be voted it is considered as a certainty that the bils concerning Petrobras´ greater influence in the pre-salt will pass. Since the discovery of the Tupi field in 2007, and other pre-salt fields discovered at the Santos Basin, there has been national and global excitement over the possible extent of Brazil´s pre-salt reserves.

New Pre-salt Discovery has 4,5 billion barrels of Recoverable Light Oil

September 27, 2010

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This new ANP discovery is the 2nd largest pre-salt discovery to date in Brazil and highlights the excellent potential of the Brazilian pre-salt.The ultra deepwater well (2-ANP-1-RJS ) was drilled at an area which has been named Franco, it lies 2.189 meters deep and the 4,5 billion barrels of light oil are of around 30º API. The well is located 195km from Rio de Janeiro and 41 km from the Iara pre-salt field, which has a recoverable oil potential of 3 to 4 billion barrels. Both are located at the Santos Basin. The Tupi field, also at the Santos Basin is still the largest discovery to date in Brazil, will a recoverable oil potential of 5 to 8 billion barrels.
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