China National Offshore Oil Corporation (CNOOC) Limited has announced the successful and safe commencement of production for the Buzios7 Project.
Situated in the Santos Basin, southeast offshore of Brazil, the Buzios oilfield, with water depths ranging from 1,900 to 2,200 meters, is recognized as the largest deep-water pre-salt oilfield in the world. Buzios7 marks the sixth development phase within this extensive oilfield, leveraging an FPSO (Floating Production Storage and Offloading) unit alongside a subsea production system. The project plans to bring 15 development wells into production, comprising 7 oil producers, 6 water and gas injectors, 1 convertible well, and 1 gas injector. With the Buzios7 Project now on-stream, the Buzios oilfield is projected to reach a production capacity of up to 1 million barrels of crude oil per day by the second half of 2025.
The FPSO used in the Buzios7 Project ranks among the largest globally, boasting a processing capacity that surpasses the industry average. This FPSO was converted in China in July 2024 and arrived at the oilfield in October of the same year. It is capable of producing up to 225,000 barrels of crude oil per day, processing 12 million cubic meters of natural gas per day, and storing 1.4 million barrels of crude oil. Additionally, the FPSO is equipped with a closed flare system to reduce greenhouse gas emissions and heat recovery devices to enhance energy efficiency.
CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC Limited, holds a 7.34% stake in the Buzios Shared Reservoir. Petrobras, the operator, holds an 88.99% stake, while CNODC Brasil Petróleo e Gás Ltda owns the remaining 3.67%.