Francisco nepomuceno's presentation slides from the 2010 World National Oil Companies Congress

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Francisco nepomuceno's presentation slides from the 2010 World National Oil Companies Congress that took place in June in London.

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Francisco nepomuceno's presentation slides from the 2010 World National Oil Companies Congress

  1. 1. Francisco Nepomuceno Petrobras E&P London Office Francisco Nepomuceno Petrobras E&P London Office London, June 23th 2010 World National Oil Companies Congress 2010World National Oil Companies Congress 2010 Petrobras Deep water experience -Overcoming the technological challenges Petrobras Deep water experience -Overcoming the technological challenges THE END OF EASY OIL - DEEPWATER AND FRONTIER E&P Laboratory Tank for Testing Offshore Platforms
  2. 2. PETROBRAS - OVERVIEW PRE-SALT DISCOVERIES IN PACE WITH TECHNOLOGY ECONOMICS REMARKS PRESENTATION SUMMARY
  3. 3. Petrobras Overview 2000 2009 Reserves (SPE) 10.4 14.9* billion boe Production 1.6 2.5 million boe/d Revenues 35.5 115.9 billion US$ Total CAPEX 3.6 35.1 billion US$ Current Petrobras Technology Strategy - An Overview * Not included the new discoveries of the pre-salt in Santos Basin
  4. 4. (Thous.boe/day) 1,500 1,540 1,493 1,684 1,778 1,792 1,855 1,971 2,100 2,980 3,950 252 251 265 274 277 273 321 316 384 623 1109 35 161 168 163 142 126 124 141 146 176 203 85 94 96 101 110 100 97 93 128 120 22 2002 2003 2004 2005 2006 2007 2008 2009 2010 2014 2020 Oil Production - Brazil Gas Production - Brazil Oil Production - International Gas Production - International 2,4002,301 2,2972,217 2,0202,0371,810 2,525 4.9% p.y. 2,723 5,382 3,907 7.1% p.y. 9.4% p.y. 1.183 152 Pre-Salt 241 1, 078 PETROBRAS PRODUCTION GROWTHPETROBRAS PRODUCTION GROWTH
  5. 5. PETROBRAS STRATEGYPETROBRAS STRATEGY New Frontier Exploration in pace with the advance in Technology Petrobras reveals four major geological plays in deep water in the last 30 years: - Tertiary turbidites - Cretaceous turbidites - Albian carbonates - Aptian (pre-salt) carbonates PRE-SALT DISCOVERIES IN PACE WITH TECHNOLOGY
  6. 6. 400m 400m 1.000m 1.000m 2.000m 2.000m 0 20 40 60 km Cabo Frio Campos Rio de Janeiro Macaé AlbacoraAlbacora 175 km RoncadorRoncador BarracudaBarracuda MarlimMarlim Marlim SulMarlim Sul CaratingaCaratinga Tertiary Turbidites: Deep Water Oil / Gas Discoveries 1974-2002
  7. 7. High productive Well Well Productivity - 6000 bpd (vertical Wells) - 15 – 40.000 bpd (Horizontal Wells) Horizontal wells - 4 - 6 months to drill and complete (1990’s) 2 – 3 months (2009) Gravel Packer – Efficient to avoid sand Production Horizontal well Injection – 40.000 bpd of water Reservoir Characteristics. Shallow oil reservoir Unconsolidated sandstone Heavy Oil Petrobras has drilled more than 300 horizontal in deep water
  8. 8. Cretaceous Turbidites: Expanding Frontiers: Oil beyond Campos Basin Oil / Gas Discoveries 2003-2006 Cretaceous Turbidites: Expanding Frontiers: Oil beyond Campos Basin Oil / Gas Discoveries 2003-2006 Mexilhão Tambau Urugua Merluza Papa terra Golfinho Whale park
  9. 9. Pre-salt Discoveries Deep Water Oil/Gas Discoveries 2006-2009 Deep water oil fields 1984-2002 Pre-Salt discoveries 2007-2008 Recent discoveries 2008-2009 Shallow water oil fields 1974-1984 Campos Basin Santos Basin Peroá Mexilhão Tambau Urugua Tiro/sidon Merluza Piracuca Papa terra Whale park Golfinho Cluster pre-salt
  10. 10. The big blue area represents the expected Pre-salt location, with great potential for oil presence The Pre-salt RegionThe Pre-salt Region Wells drilled Santos Whale’s Park Wells tested Fields Exploratory blocks Pre salt Total area of the Province: 149,000 km2 Area under concession: 41,772 km2 (28%) Area not under concession: 107,228 km2 (72%) Area with Petrobras interest: 35,739 km2 (24%) C ≈ 800 km L ≈ 200 km
  11. 11. 150 km 150 km 20 km 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 0 Lâmina d’água atual Internal High Structural Low External High SaltSalt Pre-salt Ultra Deep Water – Petroleum System Conception
  12. 12. World Energy Outlook-2009 Pre salt Pre-Salt Challenges: EconomicsPre-Salt Challenges: Economics Long-term oil-supply cost curve
  13. 13. Economic Challenges CAPEX DISTRIBUTION 18% 19% 31% 9% 20% 2% 0%1% Residual Value Processing Plants Exportation Gathering FPU Completion Drilling Abandonment
  14. 14. Productivity of all the wells tested until now exceeded 10.000 bpd Tupi well extended testing has produced 15.000 bpd since apr/2009, restricted by gas flaring limited to 500 thousand m3/d. The last two well tests (Iracema and Guara) have shown that both wells may produce more than 50.000 bpd. This high productivity is due to the highly fractured reservoir. Pre-Salt CharacteristicsPre-Salt Characteristics
  15. 15. Logistic Issues  – Approximately 300 km to shore – People transport (air and sea) – Fluids and cargo transportation Reservoir Issues – Carbonate Reservoir  Characterization – High productivity wells CO2 Issues  – Capture, Separation, Storage and Re‐ injection – All CO2 will be injected into the reservoir  – WAG: Environmental and EOR Main Pre-salt ChallengesMain Pre-salt Challenges
  16. 16. Closing RemarksClosing Remarks Petrobras and its partners are revealing the potential of a very  promising play at Santos Basin, offshore Brazil.  So far we have announced 9.1 to 14 billion barrels of oil and gas equivalent in 3  of the 8 exploration areas operated by Petrobras in that area. Petrobras has technology to develop these field in a economic  base. Domestic production growth between 2013 and 2020 to  more than 5 millions boepd and almost half will come from pre  salt production. HMS is the most strong value in Petrobras exploration and  production.  Technology, people and strategic partnerships with IOCs,  service contractors and suppliers: key to success
  17. 17. Thank You.Thank You.

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