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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

PETROLEO BRASILEIRO SA PETROBRAS

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Petroleo Brasileiro Petrobras : Our technological journey in Libra is a highlight at the Offshore Technology Conference (OTC) in the USA

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05/09/2019 | 09:28am EDT

Between May 6 and 9, we will be present at the 50th edition of the Offshore Technology Conference (OTC) in Houston, USA, where we will present our technological journey to enable one of the main exploration and production projects in our portfolio: The Libra block, in the Santos Basin pre-salt cluster. More than a new oil and gas hub, Libra is one of the company's great bets for the future, not only for its production potential, but also for its ability to drive the development of innovative technologies for the entire industry.

The world's largest offshore oil and gas event, the OTC will bring together experts, academics, operators and suppliers from all over the world interested in exchanging experiences on cutting-edge technology solutions applied to the industry. The five technologies employed in Libra were crucial for us to set the average monthly production record in that block by means of a single offshore well. The volume this well produces surpassed 60,000 barrels of oil equivalent (boe) per day.

On the first day of the event (May 5), we will present a special session entirely dedicated to this theme, composed of seven lectures. Under discussion will be the innovations used in Libra, such as the FPSO (a floating oil production, storage, and offloading unit), which allows high-flow well production and the reinjection of all of the gas produced, including the carbon dioxide present in it, thus keeping it from being burned. This is an environmentally sound innovation that streamlines knowledge about the behavior of the oil field and contributes to decreasing CO2 emissions. Another highlight will be the tower, known as turret, where the production and injection lines are connected and which has the highest vertical load capacity in the industry.

Technical capacity

'At the OTC, we will show the unique experience of developing Libra, a project unparalleled in the industry due to the high presence of carbon dioxide and contaminants in reservoirs located in ultra-deep waters. These peculiar conditions led our professionals, together with our Shell, Total, CNOOC, and CNPC partners and suppliers, to develop new technologies to make production feasible in this area,' said Production and Technology Development Director Rudimar Lorenzatto, who will present the pre-salt results, our participation in the latest exploratory block auctions, and production perspectives during a breakfast for guests at the OTC.

In the technical sessions, our representatives will address the challenges involved in reservoir management in the Campos Basin, as well as solutions to increase the economic attractiveness of offshore projects, among other issues.

OTC Award

Also during the conference, Carlos Mastrangelo, a Petrobras retiree, will be granted the OTC Distinguished Achievement Award for Individuals for developing the FPSO concept as a definitive production system and its regulation in Brazil and in the US. This is the second time in the 50 years of the North American edition of the OTC that a Brazilian is granted this award. The first one was delivered to engineer Marcos Assayag, who received it in 2007, when he was the executive manager of the Petrobras Research Center (Cenpes), for his contributions to the development of deep and ultra-deep water technologies.

'If today Petrobras is the largest FPSO operator in the global industry and holds the greatest expertise in this segment, this is largely due to the pioneering spirit of professionals like Mastrangelo, who converted this type of unit - originally oil tankers - into genuine production systems. Because they do not require the installation of pipeline infrastructure and are capable of storing oil, FPSOs have become a more efficient alternative for our company,' added director Rudimar.

We have already been granted three OTC awards for offshore innovations: In 1992, for the pioneering technologies used in the Marlim field, in the Campos Basin; in 2001, for the strategy to develop Roncador, and, in 2015, for the innovations designed to make production in the Santos Basin pre-salt region feasible.

Disclaimer

PETROBRAS - Petróleo Brasileiro SA published this content on 09 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 May 2019 13:27:06 UTC

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EBIT 2019 70 077 M
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P/E ratio 2020 7,88
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Eduardo Bacellar Leal Ferreira Chairman
Rafael Salvador Grisolia Chief Financial Officer
Roberto Moro Chief Engineering & Technology Officer
Hugo Repsold Chief Technology & Production Development Officer
Segen Farid Estefen Independent Director
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