Petrobras, Partners Approve $500 M Plan for Libra Oilfield

Brazil’s state run oil company Petrobras announces that, at the Operational Committee meeting of January 21, the consortium formed by Petrobras (40%), Shell (20%), Total (20%), CNOOC (10%) and CNPC (10%), along with Pré-Sal Petróleo S.A. (PPSA), approved the 2014 Working and Investment Plan for the Libra oilfield.

 

The main activities included in the working plan are: seismic reprocessing for the entire block; drilling two wells, to commence in the second half of 2014 and scheduled for completion in the first half of 2015; and studies for a new seismic survey using high-end technology and an extended well test at the end of 2016. The approved capital expenditure for these activities is between US$ 400 and US$ 500 million in 2014.

The Libra production share contract states that the exploratory phase will last four years, as from contract signature on December 2, 2013. The minimum exploratory program to be implemented during this period includes a 3D seismic survey of the entire block, two exploratory wells and one extended well test.

The Libra oilfield is located in the ultra deep waters of Santos Basin pre-salt layer and is considered to have high potential. With a total area of 1,547.76 km2, it was discovered when well 2-ANP-0002ARJS was drilled in 2010.

Press Release, January 24, 2014

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply