Firjan Petroleum - May 2019

Firjan PETROLEUM 3 The Oil & Gas - O&G market in Brazil is undergoing a period of intense resumption of investments, with great movement, mainly in the Northern Rio de Janeiro region. For more than 40 years, the Campos Basin, home to one of the largest offshore oil complexes in the world, has once again emerged as one of the main strategic areas. In the last rounds of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels, Petrobras acquired 11 exploration blocks in the region. Altogether, the state-owned company has approximately 90 projects in the Campos Basin for drilling, completion and interconnection of new wells, as well as maintenance and increase of the production units efficiency in operation. Among these, according to José Luiz Marcusso, company’s Deep Waters executive manager, the revitalization of Marlin mature oil fields is the project at the most advanced stage, with its concession contract extended by the ANP until 2052, along with the Voador oil field. The project provides platforms replacement and use of existing wells and the construction of new ones to improve field drainage. “We also obtained the extension of the concession contracts for the Marlim Sul and Marlim Leste oil fields, which will allow for new investments, in addition to discussing the extension of the Albacora Leste, Barracuda, Caratinga and Roncador contracts”, he emphasizes. Aiming at increasing the recovery factor of the Basin, Petrobras is also investing in reservoir management actions and the development of new technologies. An established partnership with Equinor, in Roncador oil field, has the prospect of increasing the recovery factor by 5%. “The development of new technologies is fundamental for improving the production of these fields. And when production is increased, the generation of royalties, employment and income increases as well. By the end of the year we will have a very significant growth in this market”, Raul Sanson, vice-president of Firjan remarks. DECOMMISSIONING PLAN In addition to these large mature fields, the market is in the expectation of those that will be divested by Petrobras and the Open Acreage of Areas. The search for the maximization of the areas recovery factor must be a priority, according to Marcelo Mafra, Operational Safety and Environment Superintendent at ANP. Decision-making by decommissioning must only take place after the operator evidences the economic unfeasibility of the area. Therefore, in a draft revision of regulations already finalized, the Agency proposes the anticipation of uninstalling plans for five years before the activities accomplishment. “When the operator opts for decommissioning, he will be making an early planning. The operator will have to submit a proven study of economic unfeasibility. And during those five years, ANP will place these returned areas to the market bid cycle. If there is no interest, the decommissioning plan will be followed”, he explains. According to Mafra, the regulation will induce good practices, encouraging a move towards technologies that focus on remote monitoring and inspection, and bring more robust information at a reduced cost. “Focus is anticipation, planning, management and information”, he states. MATURE FIELDS ON THE AGENDA AND DECOMMISSIONING IN THE FUTURE MARKET