Petrobras reduces pre-salt drilling time by 55%


Posted on 01 July 2014

Petrobras has reduced its drilling time by 55%, from 126 days in 2010 to 60 days in 2013, in the pre-salt layer of the Lula and Sapinhoá fields, where it has achieved 30 days between the first and last dry hole drilled.

With the reduction in drilling time, Petrobras saved an average of $66 million in drilling costs per pre-salt well, a savings that is in line with the well cost reduction program it started in 2013. Over the next five years, Petrobras plans to invest approximately $70 billion for the construction of exploration wells and production development in Brazil.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 30 January 2015

    Chevron, BP, ConocoPhillips advancing Paleogene discoveries in deepwater GOM

    Chevron and BP will collaborate with ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon...

  • 29 January 2015

    PetroQuip deploys BigFoot toe sleeve in Anadarko Basin

    PetroQuip Energy Services successfully implemented its revolutionary toe sleeve, BigFoot, in a recent horizontal completion for an independent operator...

  • 27 January 2015

    US EIA: Lower 48 oil production outlook stable despite expected rig count reduction

    The sharp decline in oil prices over Q4 2014, which has continued in January, is already having a significant effect on drilling activity in the US, according...

  • 27 January 2015

    Hess announces 2015 capital, exploratory budget

    Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...

  • 26 January 2015

    Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry

    The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...

  • Read more news