Total Launches Large-scale Development of Giant Libra Field

(Last Updated On: 12/26/2017)

 

Published in Oil Industry News on Thursday, 21 December 2017

Total announces that it has taken the investment decision for the first large-scale development phase of the Libra project, located deep offshore, 180 km off the coast of Rio de Janeiro, in the pre-salt area of the Santos basin in Brazil.

This phase, consisting of floating production storage and offloading (FPSO) unit with a production capacity of 150,000 bopd and 17 wells, will be deployed in the Northwestern part of the block.

Lubricants Oil Market
Representing Bangladesh Lubricants Oil Market

First oil started flowing from Libra field in November with the start-up of the Pioneiro de Libra, a 50,000-bpd FPSO early production phase to further appraise the field and generate early revenue. As the next step in the field development, the new “Mero 1” FPSO is expected to come on stream in 2021. In the coming years, this development will continue with the addition of at least three other FPSO’s to fully exploit the potential of the field, with a production that should reach more than 600,000 bpd.

The Libra Consortium is led by Petrobras (40%) in partnership with Total (20%), Shell (20%), CNOOC Limited (10%) and CNPC (10%). Pré-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.

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