Petrobras exec sees production gains at three FPSOs

Petrobras is set to enhance production at three floating offshore production platforms in Brazil, specifically targeting an increase at the Almirante Tamandare FPSO from 225,000 to 250,000 barrels per day.

The company is in talks with SBM Offshore and Modec to expand production capabilities of the Marechal Duque de Caxias FPSO, although the identity of the third FPSO for increased output remains undisclosed.

Concerns have been raised by CEO Magda Chambriard about an imminent change in Brazil’s reference oil price, which could negatively impact the financial viability of offshore projects and operations in the onshore sector.

Petrobras aims to revitalize oil production in post-salt fields in northern Rio de Janeiro, but proposed changes in pricing structures may hinder these efforts.

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Petrobras (NYSE:PBR) is gearing up to enhance production at three floating offshore production platforms within Brazil, as stated by Sylvia dos Anjos, the head of Exploration and Production, in a recent announcement reported by Reuters.

The company aims to boost output at the Almirante Tamandare FPSO located in the Buzios field, increasing production from the recent level of 225,000 barrels per day (bbl/day) to a targeted 250,000 bbl/day. Additionally, Petrobras plans to ramp up production at the Marechal Duque de Caxias FPSO in the Santos Basin.

Both mentioned FPSOs have already achieved peak production levels; however, Petrobras is in discussions with SBM Offshore and Modec to surpass these limits. Anjos did not specify the identity of the third FPSO under consideration for increased production.

In a separate statement, Petrobras CEO Magda Chambriard expressed concerns regarding an imminent change in Brazil’s reference oil price, which influences various taxes and royalties for drilling companies. This adjustment may threaten the financial viability of offshore projects in post-salt fields and impact operations in the onshore sector.

Chambriard emphasized Petrobras' intention to revitalize oil production in the post-salt fields located in northern Rio de Janeiro state, highlighting that the proposed changes would hinder these efforts.