The future of the Campos Basin, growing importance of natural gas in the energy transition and concerns about Brazil’s upcoming presidential elections were hot topics during the Rio Oil & Gas 2018 conference.
The event was held in late September as the country continues to attract oil and gas companies wanting to tap into Brazil’s hydrocarbon resource opportunities.
“Rio Oil & Gas offers an ideal forum to develop the debate surrounding the window of opportunity available to Brazil as the country looks to develop its huge presalt resources [as] demand for fossil fuels begins to fall off posing the risk that some of the reserves may end up untouched under the sea,” Brazilian Petroleum, Gas and Biofuels Institute (IBP) President José Firmo said during the opening ceremony. “This is an important discussion for a country that has needs for economic and social development.”
Campos Basin’s Future
After 40 years of intense offshore activities, the Campos Basin is facing challenges to grow production. Currently, the basin is responsible for nearly 60% of Brazil’s output; however, this percentage could drop over the next years as fields in the basin age.
During the panel focused on the basin, Petrobras executives pointed out that the area still holds great potential despite its aging process. The Campos Basin could increase its reserves by 1 billion barrels of oil equivalent, according to Petrobras Reservoir Engineer Luiz de Abreu Neto. These oil barrels could come from the Albacora Leste, Barracuda and Caratinga, Marlim, Marlim Sul, Marlim Leste and Roncador fields.
Abreu Neto said Petrobras intends to increase its reserves through new discoveries and the revitalization of mature fields. The “Campos Basin Revitalization Program began to be developed in 2017. In the first year of execution, the output increased 6%. There was also an increase of 22,000 barrels of oil per day of these fields,” he said during his presentation.
Source:epmag
