Major Effort to Increase Campos Basin Output
Claudio Paschoa
June 15, 2013
Petrobras has set plans to spend $5.6 billion through 2016 to increase output at the Campos Basin mature fields which have had decreased outputs for some time. Most post salt fields at the Campos Basin have been in production since the 1980s, some of which have been major producers. A steep decline in production began around 2009, not only due to the aging fields having low reserves but also because of lack of investments in operational resources and equipment for the older fields. The national operator will invest $1 billion in new money and spend $4.6 billion in operating costs to boost efficiency in the offshore Campos Basin operating unit to historic levels of about 90%, up from 72% in the first quarter of 2012.