Ultra-deepwater to capture most of Brazil's offshore capex

Gene Kliewer
Contributing Editor

Brazil's forecast capex over the next five years on ultra-deepwater developments (1,499 m/4,917 m or 1,500 ft/16,132 ft) is expected to constitute 84% of the 2015-2019 offshore spending. Infield Systems forecasts 73% of the capex will be on developments in water depths of between 2,000 and 2,499 m (6,560 and 8,197 ft). Key developments during the period include Sururu (ex-Iara Horst) and Berbigao (ex-Iara Northwest) at depths of 2,230 m (7,314 ft) and 2,222 m (7,288 ft), respectively.

Within the 2,500+ m (8,200+ ft) water depth range, Infield Systems expects important fields to include the Repsol/Sinopec-operated Gavea development, where capex is likely to be directed toward subsea infrastructure and a possible FPSO development. It also expects significant capex to be required by Petrobras' 2,500 m (8,202 ft) water depth Iracema Sul field during 2015 and 2016.

Exploration

Spectrum should have recently completed a 12,000-km (7,456-mi) multi-client 2D seismic survey offshore Brazil's Pelotas basin. The new acquisition is expected to infill both of Spectrum's 7,500-km (4,660-mi) survey acquired in 2013 and 12,000 km of data reprocessed in 2014. The area covered likely will be included in the next licensing round, expected late this year. Again, any political repercussions from the investigation of Petrobras could affect how the state government proceeds with existing plans.

Spectrum anticipates having processed PreSTM and PreSDM data in 3Q 2015. Spectrum says analysis of the existing open seismic grid in the Pelotas basin identifies several clastic units with trapping and reservoir potential.

Petrobras has confirmed that its Sergipe basin Farfan appraisal well has encountered a new, shallower 68-m (223-ft) light-oil bearing reservoir. Broadband processing and AVO analysis indicates potential at shallower depths.

Spectrum also has reprocessed long-offset 2D taken in the Sergipe basin using both conventional and broadband techniques including proprietary pre-migration deghosting and post-migration/post-stack bandwidth extension phases.

Production

So far this year, Petrobras has brought onstream a number of new wells and field-wide production systems in the Campos and Santos basins. It also has started up tension leg wellhead platformP-61 at the Papa-Terra field in the Campos basin. In a water depth of 1,200 m (3,937 ft), P-61 comprises the Papa-Terra field production project, along with FPSO P-63, which went into operation in 4Q 2013. Currently, there are five production and six injection wells connected to P-63, with five more injection wells scheduled. Plans call for 13 production wells to be interconnected to P-61. Papa-Terra is operated by Petrobras (62.5%) in partnership with Chevron (37.5%).