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>

<< Apr 2019 >>
MTWTFSS
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 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

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

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