Petrobras to Start Production in Búzios

Petrobras was authorized by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to reboot early production (SPA) well 2-ANP-1RJS located in the area of Búzios (former site of Franco), in the pre-salt Santos Basin. Through this interim system, the company can produce for about seven months and, thus, obtain essential information for the optimization of the first definitive production system field.

The field of Búzios, located about 200 kilometers off the coast of Rio de Janeiro, at a water depth of 1600-2100 meters, had its commerciality announced by Petrobras in December 2013. The declaration of commerciality is when the company or the consortium exploring the area concluded that the production of oil and natural gas is commercially viable. In the field of Buzios and 3D seismic studies (technique used for mapping reservoirs) and eleven wells were drilled in order to identify and characterize the reservoir were performed.

The field of Búzios has the largest among the volumes contracted by Petrobras through the Transfer of Rights regime: 3,058,000 barrels of oil equivalent (oil and gas) of the total of 5,000 million barrels to be produced under the contract. Petrobras found oil in this field is of good quality (between 26º and 28º API).

Transfer of Rights - The Transfer of Rights is a set of pre-salt areas and fields Basin Healthy Environment-areas Iara and golf packages (former site of Franco), Sépia (former Tupi Nordeste area), Itapu ( Florim old area), Sul Lula (formerly Tupi Sul area) and Sul Sapinhoá (former area Sul de Guara) - whose operating rights were transferred onerously (with financial compensation) by the Federal Government to Petrobras. Ie: Petrobras paid to the federal government for the right exercise of the research and production of oil and natural gas in those areas and, as established by law shall have the right to explore and produce up to 5,000 million barrels of oil equivalent (oil and gas).