The investment to be made over the coming five years is expected to help Petrobras reach a volume of 900,000boe in the basin in 2026 by bringing three new FPSO platforms into production; The Brazilian firm has also announced $5.5bn investment in exploratory activities

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Petrobras plans to introduce three new FPSO platforms in the Campos Basin over the next five years. (Credit: Junius/Wikimedia Commons)

Petróleo Brasileiro (Petrobras) has announced a $16bn renovation programme for Brazil’s offshore Campos Basin, which includes plans to introduce three new platforms and interconnect over 100 oil rigs in the area.

The investment will be made over the next five years by the Brazilian state-owned oil and gas firm.

Petrobras said that in the coming years, it will adopt new technologies to revitalise mature assets in the Campos Basin as well as for the deactivation of its oil platforms.

Last year, the basin contributed nearly a quarter of the company’s total production.

Petrobras estimates to reach a volume of 900,000 barrels of oil equivalent (boe) in the basin in 2026. This will be helped by bringing the three new systems into production.

According to the Brazilian firm, the volume represents nearly three times the production that it would achieve if it did not invest in the new platforms.

Petrobras strategy executive manager Eduardo Bordieri said: “Without the new projects, our future production in the basin would be 300,000boe.”

In the next few years, the company anticipates installing three new floating production storage and offloading (FPSO) platforms in the region.

Two of them will be FPSOs Anita Gabribaldi and Anna Neri. These will operate at the Marlim field and will have a combined production capacity of up to 150,000 barrels per day (bpd).

The third new production platform will be FPSO Maria Quitéria in the Jubarte field in the Parque das Baleias complex. To be installed in the capixaba part of the Campos Basin, Maria Quitéria will have a capacity of 100,000bpd.

As part of its Strategic Plan 2022-2026, Petrobras aims to add a volume of 20 billion boe to its reserves by the end of this decade. Of this, five billion boe in assets will be operated by the company in the Campos Basin.

The Brazilian firm has also announced that it will invest $5.5bn over the next five years in exploratory activities.

The investment will be made offshore Brazil, with 58% of it to be allocated to Southeast basins. The Equatorial Margin will be allocated 38% of the investment, while the remaining 2% will be used for exploration in other areas.