Marine Technology Reporter Blogs - technologies

During the OTC Brasil 2013 there were daily panel session, which covered some interesting themes. On Wednesday, October 30th, the panel session: Perspectives on E&P in the South Atlantic, had as one of its panelists Petrobras’ E&P Director, José Miranda Formigli Filho, known throughout Brazil simply as Formigli. According to Formigli, Petrobras’ knowledge of geology and geophysics (G&G) was vital for the national operator to meet the technological challenges and reach its exploratory success in deepwater pre-salt and post-salt E&P. Formigli estimated that by 2020 the pre-salt production will represent 50% of Petrobras’ output with the potential to reach some 31 billion barrels boe. By 2035, some 39 million barrels per day of new crude oil supply will be needed.

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.

FMC signs an $80 million subsea service contract with Petrobras in January and is awarded a $400 million contract for subsea trees in February.FMC Technologies signed a subsea service contract with Petrobras effective through 2012 and expected to result in an additional $80 million in revenue. FMC's scope of supply includes storage, maintenance, commissioning and offshore services for subsea and topside control systems and drill pipe riser systems. "FMC has a strong and longstanding relationship with Petrobras," said John Gremp, Executive Vice President of FMC Technologies. FMC Technologies has signed a four-year subsea tree frame agreement with Petrobras.