Offshore market gears up as Petrobras plans an FPSO every quarter

September 26, 2017


Author: Aditya Ravi, Analyst, Rystad Energy

Publisher: Offshore Magazine

Aiming for 2.77 MMb/d of liquids production in 2021, Petrobras plans to install 19 FPSOs offshore Brazil over the next five years. With one FPSO producing and 10 under construction, Petrobras is currently negotiating contracts for a unit each on the Sepia, Libra, and Buzios fields. Tenders for the remaining five loom on the horizon, opening huge opportunities.

Rystad Energy forecasts an increase in Brazil’s total offshore liquids production to 3.2 MMb/d in 2021, delivering an average of 5% yearly growth from 2016 (2.6 MMb/d) - with the presalt layer accounting for two-thirds.

Rystad Energy data indicates that operational efficiencies and well productivity have helped Petrobras and its partners achieve a 50% reduction in the time to plateau, currently 10 months. The analyst firm believes that the presalt, with a break even lower than $50/bbl, has illuminated the offshore market in a challenging period.

For link to article, click here.

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Article Contact

Contact: David White, Marketing Manager
Phone: +47 24 00 42 00
david.white@rystadenergy.com

Contact: Aditya Ravi, Analyst
Phone: +47 24 00 42 00
aditya.ravi@rystadenergy.com

About Rystad Energy

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products.

Rystad Energy’s headquarters are located in Oslo, Norway. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro), as well as Singapore and Dubai.