Petrobras starts production at Buzios field with high-capacity vessel

Reuters
02-16
Petrobras starts production at Buzios field with high-capacity vessel

BRASILIA, Feb 15 (Reuters) - Brazil's state-run oil firm Petrobras PETR4.SA said on Saturday that its Almirante Tamandare vessel began production at the Buzios field, with the potential to produce up to 225,000 barrels of oil per day (bpd).

In a securities filing, the company said this was the first high-capacity unit installed in the field, located in the pre-salt layer of the Santos Basin, and will help lift Buzios' output to 1 million bpd by the second half of 2025.

"Shortly, it is anticipated that Buzios will become Petrobras' largest production field, with the goal of reaching 2 million barrels per day by 2030," it added.

Almirante Tamandare can also process 12 million cubic meters of gas daily, according to the company.

Petrobras operates the Buzios consortium, which also includes Chinese partners CNOOC 0883.HK 600938.SS and CNODC, as well as Brazilian firm PPSA, responsible for production-sharing contracts.

Brazilian oil regulator ANP said on Friday it had authorized the start of production at Almirante Tamandare.

(Reporting by Marcela Ayres, editing by Deepa Babington)

((marcela.ayres@thomsonreuters.com; +55 11 5047-2444;))

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