Petrobras plans to revitalize production from aging oil fields and explore new deposits to maintain oil output in the coming years.
Brazil ’s Petrobras plans to extract every last drop of oil from existing oil fields , Bloomberg has reported, while also searching for fresh deposits to avoid a decline in output in the next decade. As part of these plans, Petrobras will seek to revitalize production from aging fields, such as those in the Campos Basin , where recovery rates have declined to just 17% and this “bothers” the company’s management, according to chief executive Magda Chambriard.
7 million barrels of oil equivalent in the second quarter of the year, which represented a 2.4% increase as the company ramped up production at five platforms and started 12 new wells, of which eight in the Campos Basin and four in the Santos Basin. The ramp-up follows a 25% drop in Brazilian output earlier this year amid platform maintenance. Now, platforms are returning from maintenance and producing more oil.
Brazil Oil Production Oil Fields Campos Basin Revitalization Capex Production Increase Energy Independence Oil Exploration
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