Petrobras’ future production will be deepwater-driven, said João C.A. Figueira, upstream senior vice president for Petrobras America, in a speech to the Marine Technology Society on 24 January 2008 in Houston. With large new discoveries in pre-salt reservoirs such as Tupi and Jupiter, "deepwater is where we’re seen to grow in Brazil."
Offshore production in 300 m of water or deeper has grown significantly since the early 1990s. In fact, without deepwater production, he pointed out, Petrobras would be producing only about 500,000 bbl/day — far from the 2.367 million bbl equivalent/day it now averages. By 2011, Petrobras aims to be producing 2.374 million bbl equivalent/day.Read More »