Global Leader in International Oil and Gas Industry News

posted in:

BG Group announces third FPSO vessel on-stream in Santos Basin

Tuesday, Jun 11, 2013

BG Group today announced the start of commercial production from a third floating production, storage and offloading (FPSO) vessel on the Group’s discoveries offshore Brazil in the pre-salt Santos Basin.

The Cidade de Paraty FPSO is the second unit deployed on the giant Lula discovery and is located approximately 300 kilometres off the coast of Brazil, in the north east corner of the BM-S-11 block.

BG Group Chief Executive Chris Finlayson said: “The start of production from our third FPSO vessel offshore Brazil, on time and on budget, marks another important success in delivering our 2013 milestones. Also, it demonstrates continued progress in the development of our major growth projects.

"We now have three FPSO vessels on-stream in the Santos Basin, two of which have started production this year alone as our development programme ramps up. It is a testament to the excellent working relationship we have with our partners and it shows the tangible progress we are making in bringing these world class discoveries to fruition in line with our plans.

"Looking ahead, the remaining 12 FPSOs committed for the first phase development programme are on schedule, with costs tracking on or under budget. The next two dedicated FPSOs in the programme will start production during 2014.

"The development programme for our offshore interests in Brazil is going very well and we expect this first phase to deliver some 500 000 barrels of oil equivalent per day (boed) net to BG Group at current equity levels by 2020. We expect that to rise to well in excess of 600 000 boed net to the Group as the full potential of these discoveries is realised through further development."

The Cidade de Paraty has capacity to process 120 000 barrels of oil per day and 176 million standard cubic feet of gas per day. The first month of production will be restricted to around 13 000 barrels of oil per day, being gradually increased as the gas reinjection systems are commissioned. It is expected that peak production will be reached in the second half of 2014.

Source: BG Group 

To access over 3,500 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Gastar Exploration begins drilling new well in Utica Shale 17-04-2014
Osiris Projects nearing completion of the ambitious works on the subsea cabling project which will help deliver fast, fibre optic broadband to the H 17-04-2014
Corlena Oil Company II, LLC to sell horizontal Texas Panhandle properties 17-04-2014
Xylem’s Godwin pumps restore critical operations at flooded oil refinery in Argentina 17-04-2014
TXON Partners, LLC to sell North Texas oil properties 17-04-2014
Samson Oil & Gas operational advisory 17-04-2014
Shell announces Malaysia deep-water gas discovery 17-04-2014
Canadian Natural Resources Limited Announces Discovered Presence of Light Oil/Hydrocarbons Offshore Cote d'Ivoire 17-04-2014
Samson Oil & Gas announces equity placement 17-04-2014
Gazprom and Gasunie emphasize long-term nature of strategic partnership 17-04-2014