Libra Oil Field

Summary Information

• Operator: Petrobras
• Country: Brazil
• Location: 183 km off the coast of Rio de Janeiro
• Production start:
• Partners: Petrobras 40%, Shell - 20%, Total 20%, CNPC 10% and CNOOC 10%
• Type: Oil / Gas
• Estimated Reserves: 7.9 billion barrels (Recoverable)
• Production Volume: The ANP estimates that total gross peak oil production could reach 1.4 million barrels per day

Description

• A massive oil field in the pre-salt area, offshore Brazil
• The volume of recoverable oil from the field may vary between 3.7 and 15 billion barrels, with a best estimate of 7.9 billion barrels, according to the assessment of Gaffney, Cline & Associates.
• The field covers 1,550 square kilometers and could require as many as 12 FPSOs to develop
• The initial development utilises the Pioneiro de Libra FPSO which has the capacity to produce 50,000 barrels of oil and 4 million cubic metres of natural gas per day

Contractors

• Odebrecht/Teekay: Supply of FPSO for extended well tests
• Jurong Shipyard: FPSO Conversion
• Technip: Supply of high-end flexible pipes including: 8" oil production, 6" service and 6" gas injection flexible pipes

History

• 2010 - Libra Oil Field discovered
• 2010 - ANP estimates that there may be 15 billion barrels of recoverable oil
• 2013 - Production sharing agreement signed
• 2014 - Drilling begins
• 2017 - First oil produced

Links

1. Libra may reach 15 billion barrels of recoverable oil
2. Shell Announces Successful Bid For Giant Field In Deep Water Brazil
3. 2014 Working and Investment Plan for Libra
4. Drilling Begins on the Libra Field in Brazil
5. Libra consortium signs letter of intent for charter of its 1st FPSO for Extended Well Tests
6. Ezra wins US$110 million engineering and fabrication contract from Jurong Shipyard for deepwater project in Brazil
7. Consortium Libra concludes the first well drilling and testing
8. Libra Consortium completes the drilling of the second appraisal well
9. Technip awarded a substantial contract to supply the first flexible pipes for the Libra pre-salt field
10. Teekay Offshore Partners Announces First Oil and Contract Start-up for the Libra FPSO