Independent Brazilian oil firms ready to boost output

Independent Brazilian oil companies expect to add significant hydrocarbons production in the coming years. 

The result of the merger between 3R Petroleum and Enauta, Brava Energia is eyeing a major oil output increase in 2025 through its new Atlanta FPSO in the Santos basin. 

The platform is ready and just waiting for oil and gas watchdog ANP's authorization to start operating.

Despite budget cuts and a lack of staff, ANP is dealing with authorizations for two other FPSOs, Marechal Duque de Caxias and Maria Quitéria, of federal oil company Petrobras, which may be impacting the processes.

The Atlanta field currently operates through an early production system, with wells that have historically produced between 8,000b/d and 15,000b/d. The first phase of the definitive system will have six wells.

“During the first half of next year we’ll reach the platform's full capacity,” Brava Energia's CFO, Pedro Medeiros, told reporters at the ROG.e. (formerly Rio Oil and Gas) conference in Rio de Janeiro. 

Much of the company's growth will also come from onshore projects. “We’re developing a campaign of new wells at the Macau hub, which will start contributing later this year,” said Medeiros.

The company imported a rig to drill in the reservoir in the Potiguar basin. 

Another growth front will be the Papa Terra field, which, like Macau, was acquired from Petrobras.     

The executive said the Campos basin asset's production facilities had to undergo an extensive revitalization process in order to increase output. “It's a field that has a lot of oil, with the capacity to produce more than 20,000b/d consistently,” he said.

Brava’s output in August was 56,625boe/d, up 3.1% from the previous month.

The operator of the Pampo and Enchova clusters in Campos, Trident Energy, sees potential to increase production from the current 27,000b/d to around 45,000b/d in the next five years.  

“We’ve extended Pampo and Enchova’s license from 2025 to 2052. I think there’s still more [production] to come,” CEO Jean-Michel Jacoulot told the conference. 

With a US$2.5bn business plan, PRIO operates four producing fields (Tubarão Martelo, Frade, Polvo and Albacora Leste), in addition to Wahoo, which will be connected to the Frade FPSO soon.  

“Wahoo shows us that there is a new avenue for growth,” COO Francilmar Fernandes told the conference. 

In 2023, PRIO reached daily production of 100,000b. 

“Operating a mature field is like riding a bicycle, you can't stop pedaling. To do this, we rely on various partners and we want to contribute to continuing to develop the market,” said Fernandes. 

The CEO of Petrorecôncavo, José Firmo, highlighted that the company is looking after natural gas reservoirs that are in the initial production stage or were not explored by Petrobras in the past.

“Natural gas had no economic relevance, it wasn't looked at the way it is today,” he told ROG.e. 

Petrorecôncavo's E&P assets are in the Recôncavo and Potiguar basins.  According to the latest ANP data, the company produced 15,825boe/d in July.