The ANP sanction will allow Petrobras to extend the lifespan of the two fields for an additional 16 years, meaning the concession contracts will now expire in 2041 instead of 2025, giving the company the possibility to produce an extra 900 million barrels of oil equivalent from the area.
In order to continue output at the fields, Petrobras has agreed to make new long-term investments, which include the installation of two new floating production, storage and offloading vessels at Marlim.
The first such FPSO is expected to enter operations in 2019 and is part of the company’s current business plan. It is understood that Petrobras may launch a tender for the charter of the unit in the second half of the year.
The second floater is only meant to start production in Marlim next decade, likely before 2024, when Petrobras will file an updated version of the development plan to the ANP.
According to the regulator, the two upcoming FPSOs should be flexible enough to meet future complementary projects in the area, including production from the Macabu formation.
Petrobras identified Aptian carbonates of the Macabu formation in Marlim in the past, but never exploited these reservoirs.
The ANP also asked Petrobras to carry out a series of improvements to boost the water treatment capacity at several platforms, as well as increase water injection.
Marlim is currently producing about 176,000 barrels per day of oil, 2.5 million cubic metres per day of natural gas and 250,000 barrels per day of water from seven ageing platforms. One unit, the P-20, also serves the Voador field.