(Petrobras, 12.Mar.2015) – On March 10, 2015 Petrobras started up its early production system in the Santos Basin’s Buzios field. This will be the first large-scale long-term production run in the Rights’ Transfer area, to be handled by FPSO Dynamic Producer, tied back to well 2-ANP-1RJS. Average output will be limited to 15,000 barrels of oil per day due to restrictions on gas use.
This early production system will enable Petrobras to produce for a six-month period and gather important information to optimize the field’s first permanent production system on platform P-74, which is currently in the final conversion phase at the Inhaúma shipyard, in Rio de Janeiro.
The Buzios field is around 200 km off the coast of Rio de Janeiro, with water depths ranging from 1,600 to 2,100 m. Commerciality was declared in December of 2013.
Rights’ Transfer Agreement – A Rights’ Transfer agreement is a concession agreement between Petrobras and Brazilian Federal Government covering a group of pre-salt areas and fields in the Santos Basin. The agreement legally authorizes Petrobras to carry out oil and natural gas exploration and production in these areas, with production capped at 5 billion barrels of oil equivalent (oil and gas), and subject to payments to the Federal Government.
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