Petrobras submits revised development plan for Brazilian field to increase hydrocarbon recovery

Petrobras submits revised development plan for Brazilian field

Brazilian oil and gas giant Petrobras and its partners have submitted a revised development plan to the National Petroleum Agency, Natural Gas and Biofuels (ANP) for Tupi and Iracema fields – located offshore Brazil in a bid to increase the recovery of hydrocarbons from the area.

Cidade de Angra dos Reis FPSO; Source: Petrobras

Petrobras reported on Wednesday that it had submitted the review of the Integrated Development Plan (PD) of the Shared Deposit of Tupi and the Iracema Area to the ANP, as the operator of the Tupi field.

The company explains that the Tupi Consortium proposes new investments within the revised plan to increase production and, consequently, maximize the generation of value of this field in the long term.

In addition, it proposes the implementation of resilient projects at low oil prices, seeking to increase the final recovery factor of the Tupi field, located in the Santos Basin, offshore Brazil.

This initiative is adherent to Petrobras’ strategy of concentrating its activities in deep and ultra-deepwater assets, where it has shown its ability to produce better quality oil with lower greenhouse gas emissions.

The Tupi Consortium consists of Petrobras (operator, 67.216 per cent), Shell (23.024 per cent), Petrogal (9.209 per cent) and PPSA (0.551 per cent).

To remind, Petrobras renamed the field from Tupi to Lula in 2010, however, the Brazilian giant was obliged to change it back to its original name – Tupi – in September 2020, following an order from the Brazilian federal court.

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The Tupi field is located mostly in the BM-S-11 concession, 230 kilometres off the coast of the state of Rio de Janeiro and it started production in 2010, using the FPSO Cidade de Angra dos Reis.

It is worth reminding that DOF Subsea secured multiple contracts in May to support the OBN survey campaigns that Shearwater GeoServices is conducting on Petrobras’ Jubarte, Tupi and Iracema fields, following a successful contract win at the beginning of this year for the Tupi and Iracema projects.

Earlier this month, DOF Subsea informed that the project – related to the OBN seismic survey in the Iracema field in around 2,000-2,250 meters of water depth – is set to start this month after the scheduled maintenance is done on CSV Skandi Neptune.