Petrobras outlines investment plans offshore Brazil

Nov. 26, 2021
Petrobras’ board has approved a strategic plan for the five-year period 2022-2026.

Offshore staff

RIO DE JANEIROPetrobras’ board has approved a Strategic Plan for the five-year period 2022-2026.

This calls for total investments of $68 billion, 24% more than for the same period under the previous plan.

In E&P segment, the company plans to spend $57 billion over the next five years, during which 15 new platforms will start operating in six fields off Brazil.

All the projects are designed to be viable at an oil price of $35/bbl in both the mid and long term.

Petrobras anticipates oil and gas production in 2022 and 2026 respectively of 2.7 and 3.2 MMboe/d.

The company also plans to develop new solutions for de-carbonization, and will allocate around $1.6 billion for this purpose in the Digital Transformation and Innovation area.

At the Brasfels shipyard in Angra dose Reis, Rio de Janeiro State, fabrication has started of two topsides process modules for the P-78 platform for the Búzios field in the presalt Santos basin. The platform, with a capacity of 180,000 b/d of oil and 7.2 MMcm/d of gas, is due to start production in 2025 via six subsea producer and seven injector wells linked connected to a network of rigid and flexible pipelines.

11/26/2021