No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
18 09-2008 José Miranda Formigli Filho na Rio oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)
1.
2. Agenda
The presentation may contain forecasts about future events. Such
forecasts merely reflect the expectations of the Company's management.
Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan",
"project", "seek", "should", along with similar or analogous expressions,
are used to identify such forecasts.
These predictions evidently involve risks and uncertainties, whether
foreseen or not by the Company. Therefore, the future results of
operations may differ from current expectations, and readers must not
base their expectations exclusively on the information presented herein.
The Company is not obliged to update the presentation/such forecasts in
light of new information or future developments.
3. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
4. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
5. It was like this approximately 120 million years ago
Inter tidal and Sub tidal stromatolites – Australia – recent sedimentation
9. Seismic Line / Geological Section -
Santos Basin
E
W
Top of the Albian Top of the K
Sea bed
Top of the Salt
Base of the Salt
Ri f t
f the
Top o
if t
tra-R
D is c In
Basement
0 5 10 15 20 km
10. Some Location Details
Evaluation Plans
approved by ANP
Parati – 1-RJS-617
Tupi – 1-RJS-628
Carioca – 1-SPS-50
Caramba – 1-SPS-51
Guará – 1-SPS-55
Evaluation Plans being
prepared/under negotiation
Bem-Te-Vi – 1-SPS-52
Júpiter – 1-RJS-652
Iara – 1-RJS-656
10
11. General Data - Tupi Area
Tupi Area
Petrobras (65%), BG (25%), Oil viscosity around 1 cP
Petrogal (10%)
GOR around 230 m3/m3
Heterogeneous layered
carbonates – microbiolates Initial pressure 580 kgf/cm2
with variable reservoir quality Low TAN (Total Acid
Water Depth about 2,200 m BM-S-11 Number)
(TUPI)
Salt layers with thickness – CO2 in the associated gas
up to 2,000 m (Tupi: 8 - 12%)
Well tests indicate potential Concern with flow
flow rates of 15-20 k bopd assurance due to wax
deposition in pipes
API: 28-30º
12. General Data - Tupi Area
PA do RJS-628
Área: 378 Km2
Tupi Area
Selected Area for the Pilot:
115 km2
Area of the Appraisal Plan:
1974 km2
The main reservoir in the
Pre-Salt is known as the
Pólo SAG reservoir.
10 km
Two other carbonate
reservoirs are found in the
area (RIFT, COQUINAS).
The preliminary estimates
for the recoverable volume
for the whole Tupi area are
between 5 and 8 billion bbl
13. General Data - Iara
Iara Area
•Petrobras (65%), BG (25%),
Petrogal (10%)
•Area of the Appraisal Plan: 300
km2
•The preliminary estimates for the
recoverable volume for Iara area
are between 3and 4 billion bbl
•Water Depth about 2,230 m
• Reservoir Depth about 6,080 m
• API: 26-30º
14. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
15. Development Strategy (Ex: Tupi)
1st Oil – EWT 1st Oil – Tupi Pilot Significant
Tupi (Mar/09) (Dec/10) production level
2007 2009 2010 2012 ..... 2017 ..... t
Information Acquisition Definitive Development
Phases Phase 0 Phase 1A Phase 1B
Focus
EWT (Mar/2009), Tupi Pilot and Implementation of “X” production units • Implementation of “Y”
Appraisal Wells (Replicant FPSOs) production units.
• Analyse water and gas/CO2 injection behavior
• Area Delimitation
• Test adjustments on FPU related to CO2
• Analyse reservatoir flow
Objective
• Test improvements in well projects
• Fractured Well performance
• Apply previous dominated concepts and technologies with necessary adjustments to
• Complete sampled core
reach a significant production by 2017
• Material analysis X CO2
• Aggregate inovative technical solutions to optimize project performance
16. Development Strategy by Phases
Phases Phase 0: Information Acquisition Significant
Programs Phase 1: Definitive Development production level
BMS – 11 Tupi Dec
BMS – 9 Carioca Nov
BMS – 10 Parati Apr
BMS – 9 Guará Dec
BMS – 21 Caramba Dec
BMS – 8 Bem-Te-Vi
BMS – 11 Iara
BMS – 24 Jupiter
Gas Transportation
Oil Transportation
Infra - Logistics
Oil Utilization
Gas Commercialization
Phase 0: Information Acquisition: Appraisal Wells + EWT Tupi + 7 EWTs in other areas + Tupi&2Anticipated Pilots
Phase 1 – Definitive Development
Phase 1a – 8 FPSOs + Gas Transp.1a + Oil Transp.1a + Infra + Oil Utilization1a + Gas Commercialization 1a
Phase 1b – “N” FPUs + Gas Transp.1b + Oil Transp.1b + Oil Utilization1b + Gas Commercialization
17. Production Design
• 2 Well Production: 3-RJS-646 and P1
1st Oil: March/2009 • Expected Flow: 14.000 bpd
• Test Duration: 15 months
FPSO BW Cidade
de São Vicente
LDA: 2200m
6 “ PRODUCTION
6“ PRODUCTION 4” SERVICE
4” SERVICE EHU
EHU
PHASE 3
LINE WELL 3-RJS-646
RELOCATION 3 MONTHS
DRILL
PHASE 1
WELL P1 PHASE 2 WELL 3-RJS-646
WELL P1
6 MONTHS
6 MONTHS
18. Pilot Project Scope
Production Pilot
5 producers; 2 water injectors; 1 gas
injector
Connected to a Spread Mooring FPSO
Production start-up scheduled for
December, 2010. CO2 will be separated
and reinjected in the reservoir. Gas will
LEGEND flow to Mexilhão (shallow water gas
PIPELINE field, through a 200 km gas pipeline),
WATER
OIL
N Capacities:
GAS INJECTION 100,000 bopd and 4MMm3/day (gas)
Main goal: investigate recovery
Reservoir
Reservoir mechanisms and well geometries.
19. Gas exportation for the Tupi Pilot
UGN UTGCA
RPBC
14
5
Km
PMXL
170 Km
21
URG
2K
So
m
lu
tio 21
n 6
fo Km
rt
he
PMLZ-1 Pi
lo
t
Tupi
Area
TEFRA Existing Under study
N
Building
20. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
21. Technological challenges
Reservoir Characterization and
Engineering
Facies definition from seismic data.
Internal reservoir characterization, with
focus on the main heterogeneities.
Secondary recovery: technical feasibility of
water and gas injection.
Geomechanics of the surrounding rocks
with depletion.
22. Technological challenges
Salt drilling Well Drilling and Completion
Deviation of the wells into the salt
zone.
Sea bed Hydraulic fracture in horizontal wells.
Wellbore materials, resistant to high
CO2 content.
Evaporitic session
Slow penetration in the reservoir.
Extended Reach Wells.
23. Technological challenges
Subsea Engineering
Qualification of risers for water depth of
2,200 m, considering CO2 and high
pressure.
Scenario for riser towers, SCRs with lazy
wave and other technologies.
Qualification of thermal insulated flowlines
for water depths of 2,200 m.
Flowlines for high pressure gas injection
24. Technological challenges
Flow Assurance and Artificial
Lift
Preventing hydrate formation
Wax deposition in long pipelines.
Scaling control
Temperature management along
the lines
25. Technological challenges
Floating Production Units
Mooring in water depths of 2,200 m
Interaction with the riser’s system
Scenario for platforms with direct
access to the wells (SPAR,
FPDSO).
26. Technological challenges
Logistics for the Associated Gas
More suitable materials for equipment
dealing with high CO2 concentration
gas streams.
Gas pipeline larger than 18” in water
depth of 2,200 m.
Long distance to shore (300 km).
Scenario for new technologies
offshore: LNG, CNG, GTL, GTW, etc.
28. PRO-SAL - Pre-Salt Technological Program
CENPES
Objective:
Develop and disseminate technologies to
incorporate reserves and to develop the production
of the recent discoveries in the pre-salt section.
Projects’ Portfolio:
Well construction for the pre-salt section (drilling
fluids, cement resistance, stimulation techniques,
137 Laboratories geomechanical model, liner drilling, well control in
30 Pilot Plants the salt zone, multilaterals).
Geosciences (chemical stratigraphy, core-log-test
integration, geomechanical model and fracture
distribution, pre-salt imaging, seismic attributes)
Reservoir Engineering: Recovery optimization
29. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
30. Logistics – Petrobras strategy
Implemented culture for running fast track projects: Golfinho FPSOs,
Plangas FPSOs, Roncador 1st DP FPSO, … ;
Long run standardization program for most well design/ related
equipment, as well as subsea hardware (wellheads, subsea trees,
flexible lines, …);
Extending this strategy to FPU design; ex: Opportunity FPSOs, FPSO
“Flex”;
Established “batch orders” with key suppliers for long lead items.
Mobilized fleet + current negotiations with contractors for rigs, laying
vessels, anchor handlers, … ;
Established long term contracts with Service Companies.
Interacting with the market for gas transportation to shore through
alternative solutions in relation to traditional trunk line (LNG, CNG,
GTW,…);
Negotiations with partners for project’s scope and budget approvals.
32. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
33. Petrobras Approach for Pre-Salt
Development (Internal Process)
The Effort x Time analysis shows that the initial main focus of PLANSAL is
strategy definition followed by project implementation phase.
PLANSAL
Effort
Cluster Strategic Plan and Integrated
Projects
Development Model
(Pre-Salt Committee)
Programs
Guidelines
Project Implementation
(Areas)
2009 Time
Periodic Reviews > 2020
Pre-Release of
Master Plan
34. PLANSAL Structure
Exploration
Exploration Production
Production Production
Production Oil Transfer,
Oil Transfer, Gas Transfer,
Gas Transfer,
Subprogram
Subprogram Development
Development Infrastructure
Infrastructure Transportation
Transportation Processing,
Processing,
Transportation
Program Planning, Monitoring and Management
Transportation
Program Planning, Monitoring and Management
Subprogram
Subprogram Subprogram
Subprogram and Utilization
and Utilization
and
and
Commercialization
Commercialization
Subprogram
Subprogram
• Logistics • Oil Transportation and • Gas Transportation and
Utilization Marketing
• Transportation • Oil Transportation– E&P • Gas Transportation – E&P
Environmental Licensing Plan
Joint Ventures Management Plan
Unitization Plan
• Equipments and Drilling Services, Logistic, Wells and Submarine
Critical Resources Availability Plan • Equipments and Services for Pipelines, Floating Productions Units and Facilities
• CO2 use • Reservoir Drainage
Technology Development Plan • Use and storage of gas • Concepts of Floating Production Units
Human Resources Plan
35. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
36. Production Platforms Scenario
National Content Demand;
Resources Competition with local shipbuilding industry;
Large offshore platforms demand on short-term schedule;
Significant capacity increment of national marine/offshore
construction sites.
38. Production Platforms Construction Strategy
Field tested technology for FPSO hull construction;
Standardization of FPSO hull, including all marine systems, facilities
and accommodations;
FPSO hulls construction made by large experienced companies;
New hull building cost similar to converted hull’s cost due to scale
effect
Standardization of FPSO´s Top sides whenever possible;
Sequence of 8 FPSO units
39. Production Platforms Construction Strategy
Basic project developed by Petrobras/CENPES;
Supply – critical items acquired by Petrobras, other items acquired by
EPC Contracts;
Modules manufacturing in existing construction sites or to be
prepared with low investiment;
Number of module contracts depends on plant configuration and
facilities (waiting for EWT data);
Two or three big contracts for “Integration and commissioning”,
under analysis.
40. Subsea Rigid Pipelines Scenario
Pipe manufacturer market highly committed;
Few number of suitable pipeline lay down vessels available in
International Market;
Ultra deep water depth sites;
Irregular seabed pipeline routes;
Due to the water depth, it is recommended to use high strength steel
pipe (API 5L X70/80). National industry is getting prepared to supply
this kind of material.
41. Subsea Rigid Pipelines Implementation
Strategy
Pipeline lay down Vessel availability:
Anticipate slot acquisition of new and existing vessels;
Construction of a new vessel in Joint venture with a experienced
Operator
EPCI Contracting Philosophy;
Combination of above strategies;
42. Drilling Rigs Contract Strategy (28 units)
Significant number (25) of drilling rigs under construction to be
received until 2012;
Construction of new units, specifically in Brazil, to be delivered from
2014 and on (in analysis);
Hiring of extra existing units in global market, if necessary.
43. New Rig demands after 2013
Defining minimum necessary technical characteristics for development
of new pre-salt fields;
Evaluating projects of drill units that better attend these requirements;
Evaluating the infra-structrure installed capacity;
Studying hiring strategies that makes feasibly the extremelly
significant investiments on competitive bases with international
market.
44. Logistics Contract Strategy
146 Vessels (PSV – Platform Supply Vessel, AHTS – Anchor Handling
Tug Supply, and LH – Line Handling) and Helicopters:
Operation is pool regime;
Bids in advance that allows the construction
Vessels constructed in Brazil;
Contract of existing units, if necessary
45. Subsea Equipments and Laying Vessels
Contract Strategy
Subsea Equipment:
Long Term Contracts, with:
minimum consumption guarantee;
standard products;
antecedence that allows investments in industrial enlargement and/or new
companies entry in Brazil.
Vessels (PLSV):
Long Term Contracts, with:
Additional units for Pre-Salt (increase actual fleet);
Traditional suppliers will be invited for bids;
Anticipation that allows the construction.
46. Well Equipments and Services
Well Equipments:
Long Term Contracts, with:
minimum consumption guarantee
traditional suppliers will be invited to tender
antecedence that allows investments in industrial enlargement and/or new
companies establishing in Brazil.
Well Services:
Long Term Contracts, with:
anticipation that allows investments;
Scale effect for rising competition.
47. Agenda
Introduction - Pre-Salt
Santos Basin Pre-Salt Development Strategy
Technological Challenges
Economical and Logistics Challenges
PLANSAL Planning and Governance
Commercial Strategies
Conclusion
48. Conclusion
• Petrobras has a worldwide recognized deepwater experience to
address technical and comercial challenges for Pre-salt appraisal and
development
• A new paradigm will be established for conceptual design applied to
Santos Basin Pre-salt cluster production development and logistical
support
• There are tremendous opportunities for already installed and
newcomers in Brazilian oil&gas equipment suppliers and service
companies due to the scale provide by upstream portfolio
• Pre-salt will start commercial production in 2010, with a steep ramp-
up on the following years, reaching a significant contribution to
Petrobras oil and gas production throughout next decade, as will be
announced by next revision of our Strategic Plan.
49. Thank you!
Question and Answer Session
Visit our website: www.petrobras.com.br/ri
For more information contact:
Petróleo Brasileiro S.A - PETROBRAS
Investor Relations Department
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 – 22º floor
20031 912 – Rio de Janeiro, RJ
(55-21) 3224 1510 / 3224 9947