PARIS – Total has committed to invest in the first large-scale development phase of the deepwater Libra project in the presalt Santos basin, 180 km (112 mi) offshore Rio de Janeiro.
The Petrobras-led consortium will commission an FPSO with a production capacity of 150,000 b/d of oil from 17 wells, located on the northwest part of the block.
Arnaud Breuillac, President Exploration & Production of Total, said: “The decision to launch the large-scale development of the Libra field is a major step…
“We have worked withPetrobras… and our partners to secure technical costs below $20/bbl…
First oil began flowing from the Libra field early production system last month via start-up of thePioneiro de Libra, a 50,000-b/d FPSO early production system.
This program is designed to further appraise the field and to generate early revenue.
For the next development phase, the new Mero 1 FPSO should come onstream in 2021. Over subsequent years at least three more FPSOs will be added to fully exploit the potential of the field, Total added, with production eventually topping 600,000 b/d.