Brazil’s Petrobras Uses US$ 50 Billion in Plan Well Beyond Self Sufficiency in Oil

When it starts up operations in January, 2006, the P-50 platform vessel will be Brazilian Petrobras’ largest production unit, churning out 180 thousand barrels of oil daily in Brazil.

Besides producing petroleum, the P-50, which is a floating production, storage, and offloading unit (FPSO), built at the cost of US$ 634 million (1.3 billion reais), will also be capable of compressing 6 million cubic meters of natural gas and of storing up to 1.6 million barrels of oil.

However, in order for its plan of sustained self-sufficiency in petroleum production to become a reality, state-owned Petrobras is also counting on three other production units to come on line next year.

They are the P-54, with a 60 thousand barrel daily output, in the Jubarte Field, in the Campos Basin (off the Rio de Janeiro coast); the SSP-300, with a 20 thousand barrel daily output, in the Piranema Field, in the state of Sergipe in the Brazilian Northeast; and the Golfinho Phase One unit, with a 100 thousand barrel daily output, in the Golfinho Field, in the Espí­rito Santo Basin.

Petrobras’ has its sights set even higher, going well beyond the goal of self-sufficiency: The company hopes to attain a daily production average of 2.3 million barrels by 2010.

To achieve this target, the company has 36 major projects in the pipeline for execution between now and the end of the decade.

These projects involve investments surpassing US$ 50 billion and will permit the start-up of platforms P-51, P-52, P-53, P-54, and P-55, each with an average daily production of 180 thousand barrels of petroleum.

Agência Brasil

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