Petrobras obtains environmental licenses to expand Brazil’s oil production
Petrobras, Brazil’s state-run oil company, has secured environmental licenses to boost production in the Mero and Buzios offshore fields. The Buzios field might see an early production start with the FPSO vessel Almirante Tamandare, according to sources.
Both fields are located in the Santos Basin in the Atlantic Ocean.
Petrobras and Brazil’s environmental agency Ibama have not yet commented, but Petrobras stated that the FPSO is still expected to begin production in 2025.
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Despite an ongoing strike at Ibama that has slowed permit issuance this year, Petrobras has secured the licenses.
These permits are expected to increase Brazil’s production by 66,000 barrels per day (bpd), with 46,000 bpd coming from the Mero field and 20,000 bpd from Buzios. According to sources, approximately 36,000 bpd will be added to Petrobras’ production, while the rest will go to its partners and the state-run firm PPSA.
The FPSO Almirante Tamandare is expected to arrive in Brazil in October and might begin production this year. The vessel has a capacity of 225,000 barrels per day (bpd).
According to its strategic plan, Petrobras aims to produce 2.8 million barrels of oil equivalent per day (boepd) in 2024, with a possible variation of 4% up or down.
Also read: Brazil’s energy industry pushes for new hydroelectric plants despite climate concerns
Between April and June, Petrobras produced an average of 2.7 million boepd, a 2.4% increase from the same period in 2023.
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