New exploitation in Brazil’s oil field
A deepwater oil field in Brazil, operated by Chinese company CNOOC , has started production. It is highlighted that the capacity of the Mero 2 project reaches 180,000 barrels per day.
This project is part of the Mero field, one of the three largest in the productive Santos basin, located off the coast of southeastern Brazil. This is located in Brazil’s pre-salt zone, which is home to the majority of the country’s untapped oil and gas resources and is critical to current oil production in the region.
CNOOC, focused on the development of energy assets outside China, has plans to drill a total of 16 wells in the Mero 2 project, with half of them for production and the rest for injection . At the Mero field, which has four production units, one is already in operation. The pre-salt zone is of great importance for Petrobras, which announced last year its plan to install 11 new floating units in that area, with the aim of increasing daily production to 2.4 million barrels of oil equivalent.
It should be noted that Petrobras will also allocate two-thirds of its production and exploration expenses to the pre-salt zone over the next five years, with the goal of reaching daily production of 3.1 million barrels of oil equivalent in 2027.
Brazil aspires to position itself as the world’s fourth largest oil producer and to achieve this goal, it does not depend solely on Petrobras. In addition to CNOOC, all major international oil companies have a presence in the country’s rich pre-salt zone. Last year, Brazil revealed plans to tender three more areas in this prolific region, which hold potential reserves estimated at 16.8 billion barrels of oil equivalent.
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Source: worldenergytrade.com
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