2014 Global Energy Conference Credit Suisse Rudimar Lorenzatto Exploration & Production June, 2014
AGENDA BUSINESS AND MANAGEMENT PLAN 2014-2018 PRODUCTION UPDATE - RAMPING UP NEW SYSTEMS - MAINTAINING EXISTING SYSTEMS PER BOE ANALYSIS PRE-SALT UPDATE NEW UNITS CONCLUSION
Business and Management Plan 2014-2018
Investments in Exploration & Production: US 153.9 billion Downstream 38.7 (17.5%) Production Development 112.5 (73%) Gas & Energy 10.1 (4.6%) International 9.7 (4.4%) Distribution 2.7 (1.2%) 2014-18 BMP Biofuels 2.3 (1.0%)…
Projects Under Implementation, Bidding Process and Evaluation Portfolio of Projects Under Implementation + Under Bidding Process Portfolio of Projects Under Evaluation US 206.8 Billion US 13.8 Billion 2014-18 BMP Under…
2014-2018 BMP: Investment and Operating Costs Management 2014-2018 BMP US 220.6 Billion PRC-Poo PROEF Program to Reduce Program to Increase Well Costs PROCOP Operational Efficiency Operating Costs PRC-Sub Optimization…
New systems ensure future growth NE de Tupi (P-72) 3 MM bbl ES guas Profundas Espadarte III Iara NW (P-71) SE guas Profundas II Lula Ext. Sul Revitalizao e CO Sul de Lula Marlim I Revitalizao (P-68) Marlim II SE guas Lula…
Ramping Up New Systems
Production in the 1Q14 was 1,922 kbpd, in line with projections 2013: 1,931 th. bpd Th. bpd 1Q13 2Q13 3Q13 4Q13 1Q14 2,200 Average 1,910 Average 1,931 Average 1,924 P-63 Average 1,960 P-55 Average P-58 1,922 FPSO Cid. So Paulo…
Production growth target of 7.5% ( 1 p.p.) maintained 2013 Average: 1,931 th. bpd 2014 Average: 2,075 th. bpd 1% Th. bpd 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2,600 Average 1.910 Average 1.931 Average 1.924 Average 1.960 Average…
Our critical resources needs are fulfilled New Production Units New UDW Drilling Rigs New PLSVs above 2000m 27 28 19 19 19 19 35 17 1 2 30 5 22 5 28 2 9 8 9 19 14 8 8 13 6 9 5 5 6 7 2 7 8 1 5 2 2014 2015 2016 2017…
Production Wells Expected to be Connected in 2014 New Production Wells in 2014 New Injection Wells in 2014 64 28 59 49 22 17 18 3 Connected Completed Drilled Total Connected Completed Drilled Total In 2014, up to…
Buoyancy Supported Risers A pioneer concept for subsea systems: a giant buoy to support rigid risers. Which fields Sapinho Field (FPSO Cid. de So Paulo) Lula NE Field (FPSO Cid. de Paraty) Operational status: All 4 buoyancies…
Maintaining Existing Systems
Main Operational Units Cango Pero UO-ES Camarupim 7 production units ESGolfinho 287 kbpd Canapu Vitria Carap MG Parque das Baleias UO-RIO 17 production units 840 kbpd Albacora Roncador Garoupa RJ Marlim Barracuda Rio de…
Program to Increase Operational Efficiency (PROEF) Operational Efficiency(%) Oil + NGL Production (kbpd) UO-BC 488 Recovering wells and 455 452 442 subsea systems. 418 389 390 389 382 Total Expenditure* 428 355 413 408 405 US 1,897…
Legacy Oil accounts for 80% of the production target for 2014 Reservoirs potential decline rate Decline Rates - CERA 2.5 LARGE SMALL SOURCE FIELDS FIELDS 2 Onshore 5,3% 6,2% Deep waters 12,0% 19,8% OIL POTENTIAL (MM BPD)…
Higher productivity guaranteed the maintenance of lifting cost More operational activities with constant oil production; Stabilized unitary costs with a downward trend increase in productivity and cost reduction 40 2013 Average: 1Q…
The 2014-18 BMP counts with the gains of PROCOP Costs reduction between 2013 and 2016, with nominal values of R 37,5 billion 34.8 -5,9% a.a. 32.7 Optimization of routine processes and resources used in the production of oil &…
Pre-salt Update
The Pre-Salt Province Average Water Depth: 2,100 m MG 13% Distance from the coast: 300 km Consortium without Petrobras Salt thickness: 2 km Reservoir average depth: 5 km Remaining areas Areas under concession 103.4 mil km…
The Pre-Salt Province FPSO Cid. FPSO 9 production units MG Anchieta Capixaba P-58 + 2 EWT 5 p; wells 1 p. well 1 p. well 22 production FPSO Cid. wells (10 PPSBS, FPSO Cid. Niteri RJ 5 BC/RJ e 7 BC/ES) Angra dos Reis 1 p. well 4…
Pre-Salt Production Highlights Monthly Production Average High Productivity Wells (kbpd - peak) (kbpd) Daily Production Record 470 kbpd in May 11st 2014 SPS-77 (Sapinho Pilot) 36 Campos Basin 411 385 LL-02 (Lula Pilot) 36…
Pre-salt Drilling Activity in the Santos Basin Pre-salt Cluster 55% Reduction of drilling time from 134 to 60 days (2006-2013)* 22 Drilling + completion record (2013): 109 days 21 100% Exploratory success in the pre-salt…
FPSO Cidade de Ilhabela - Sapinho Norte Sail away by Jul/2014 1st oil: 2H 2014 150 kbpd oil 6 MM m/d gas 8p + 7i wells
FPSO Cidade de Mangaratiba - Iracema Sul Sail away by Aug/2014 1st oil: 2H 2014 150 kppd oil 8 MM m/d gas 8p + 7i wells
P-66 - Lula Sul (Replicant) 1st oil: 2016 The first of 8 new build FPSOs (Replicants)
P-74 Bzios I 1st oil: 2016 The first of 4 Converted FPSOs
Conclusion
CONCLUSION To achieve our 7,5% (+-1%) growth in production in 2014, we are counting on: Arrival of 8 PLSV, making a total of 19 PLSVs (12 to pre-salt) by the end of 2014 Out off the 10 new units planed for 2013-2014, 7 are already…
CONCLUSION Petrobras is a businesses driven company and our focus now is the increase of production. Our board is directly involved in this matter. We are getting more efficient in drilling and completing wells the Pre-salt layer,…
THANK YOU INFORMATION Investor Relations +55 21 3224-1510 petroinvestpetrobras.com.br www.petrobras.com.br/ir
Loading...
