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Chevron to bring Brazil's Frade field on stream in late 2008/2009
Platts
Singapore
Petroleumworld.com 06 23 06
Chevron and its partners have committed $2.4 billion to develop the Frade
field offshore Brazil, the US major said late Wednesday. Production from the
field is expected to begin in late 2008 or early 2009.
The field will have a production capacity of around 100,000 b/d of crude.
Chevron said annual output was expected to peak at 85,000 b/d of oil
equivalent.
The field contains between 200 million and 300 million barrels of
recoverable oil and is located in the Campos Basin in a water depth of 3,500
feet, approximately 75 miles (121 km) offshore the state of Rio de Janeiro.
The development concept consists of horizontal production wells along
with vertical water injection wells to maintain reservoir pressure. The wells
will be individually tied back to a floating production, storage and
offloading vessel. Crude oil export will be by tanker, with natural gas to be
transported through the local pipeline infrastructure.
Chevron, through its affiliate Chevron Brasil, is the operator of Frade
and holds a 51.74% working interest in the field. The other partners in the
project include Petrobras (30%) and Frade Japao Petroleo (18.26%), which is a
joint venture between Japanese companies INPEX, Sojitz and JOGMEC.
The partners recently awarded construction and installation contracts to
Norwegian offshore engineering group Acergy.Platts 22 06 06
Copyright ©2006 Platts. All Rights Reserved.
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