Petrobras to add 18 FPSOs in next five years

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Brazil’s Petrobras plans to place 18 floating production, storage, and offloading (FPSO) vessels offshore Brazil in the next five years, according to its 2023-2027 Strategic Plan.

The vessels’ capacities will range from 70,000 to 225,000 barrels of oil per day (bpd).

In 2023, six vessels are expected, with combined capacity of 630,000 bpd.

In 2024, three vessels are expected, with combined capacity of 505,000 bpd.

In 2025, three vessels are expected, with combined capacity of 540,000 bpd.

In 2026, two vessels are expected, with combined capacity of 450,000 bpd.

In 2027, five vessels are expected, with combined capacity of 711,000 bpd.

Most of them are earmarked for pre-salt fields. The Plan makes few adjustments to the company’s previous FPSO vision for the 2023-2026 period in its 2022-2026 Plan.

Norwegian consultancy, Rystad Energy, had projected earlier this year that while many offshore producers will see reduced output through 2035, Brazil’s will increase to almost 5 million bpd. With the 2027 FPSOs planned, Brazil is likely to exceed the 5 million bpd mark. Present oil production levels are just above 3 million bpd.

Guyana was noted as a distant second in Rystad’s project, as it is expected to achieve offshore output about 1.2 million bpd by 2027.

Petrobras also plans to drill 42 wells in the period 2023-2027, to add to its reserves, among the largest in the world.

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