New Brazil Output for Petrobras, Shell
P-69 is a standardised vessel that can process up to 150,000 barrels of oil and 6mn m³ per day of gas. It will ramp up production through eight producing and seven injection wells. Its hull was completed at the Cosco shipyard in China, according to Petrobras, while integration of its modules and the final commissioning were carried out at the Brasfels shipyard in Brazil.
“The Brazilian pre-salt fields are some of the best deep-water provinces in the world,” said Shell upstream head Andy Brown. “With significant flow rates, deep-water Brazil projects are breaking even under $40/barrel. We commend Petrobras on this production milestone, and we look forward to progressing additional development plans with our consortium partners as well as for our recently-acquired, deep-water Brazil blocks.”
Following Lula Extreme South, the next FPSO is P-67 for Lula North - both in Brazil's offshore Santos basin.
Shell has a 25% stake in the Lula consortium, operated by Petrobras (65%), while Portugal's Galp holds the remaining 10%. Discovered 2006, Lula is the largest producing field in the country, responsible for 30% of Brazil's production. Its naming was a nod to former Brazilian president Luiz Inacio Lula da Silva, although Lula in Portuguese also means 'squid'.
Also the Libra product sharing agreement continues to progress with an extended well test as well as the Mero 1 FPSO, and additional FPSOs are planned, said Shell; it also has development drilling planned for its operated Gato do Mato South field in 2019.
The Libra consortium is led by Petrobras (40%), Total and Shell each have 20%, while Chinese state partners CNOOC and CNPC have 10% equity each.
