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Thursday, February 25, 2021

Brazil’s Petrobras strikes high-quality oil at Búzios field

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Brazil state-oil company Petrobras has made a discovery of high-quality crude at the Búzios field, in the Santos Basin. The company confirmed Tuesday the presence of “oil of excellent quality” with the drilling of the 9-BUZ-48D-RJS well.

The well is located 188 km from the city of Rio de Janeiro and was drilled at a water depth of 1,850 meters.

“Tests carried out from 5,540 meters in depth confirmed the presence of oil tanks of excellent quality. The discovery reinforces the potential of the pre-salt in the Búzios field,” Petrobras said.

S&P Global Platts said in a report this week that the latest crude oil discovery at Buzios underscored the growing importance of what many industry officials consider Brazil’s biggest offshore deposit. Development of Buzios was the linchpin of Petrobras’ 2021-25 investment plan, which included plans to install four new floating production, storage and offloading vessels, or FPSOs, and drill about 100 wells at Buzios in the $55 billion spending program.

Petrobras is the operator (90%) of the consortium in the Búzios field, in partnership with CNOOC (5%) and CNODC (5%).

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