CNOOC starts offshore exploration of its oil field in Brazil, which had investments around US$ 20 billion

Ruth Rodrigues
per
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11-05-2022 13:36:00
in Oil, Oil and Gas
The CNOOC company is now advancing towards its expansion in oil production in Brazil and putting into operation its offshore fuel exploration field, which has had billionaire investments for high productivity around these activities. Photo: China Daily/Agencies




The CNOOC company is now advancing towards its expansion in oil production in Brazil and putting into operation its offshore fuel exploration field, which has had billionaire investments for high productivity around these activities.

China National Offshore Oil Corp (CNOOC) started the deepwater pre-salt project located in the Santos Basin, located between Rio de Janeiro and Espírito Santo, during this last Monday, (05/09). Now, the company continues with its expansion plan in the exploration of offshore oil, aiming at an even greater commercialization with the international fuel market.

CNOOC field that cost US$ 20 billion is put into operation for offshore oil exploration and commercialization in the international market of the product

The launch of oil production at the CNOOC field in Brazil is the latest effort by the country's top offshore oil and gas producer to increase oil and gas production abroad. Thus, the company began exploration in the pre-salt areas, as a way of boosting this market abroad, since Brazil has a high reserve of fuel and is the world leader in exploration using this pre-salt technology. 

The company's US$ 20 billion investment in the construction of the offshore oil exploration field was based on the high potential that the country has around this fuel. And, with the completion of works and the start of operations, the site can now produce 180,000 barrels of crude oil per day and should reach its peak production by the end of 2022. This is the company's big bet for its growth in the international oil and gas market and relied on all of CNOOC's efforts to be a high-productivity plant. 

CNOOC is one of the largest companies in the field of offshore oil exploration in the world today. And, one of the company's great achievements is that it currently holds a 9,65% stake in the Mero block, alongside operator A Petrobras (38.6%) and partners Shell PLC (19.3%), TotalEnergies (19.3%) and China National Petroleum Corp (9,65%) and Pre-Sal Petroleo SA holds 3,5% as Federal Union representative. Thus, the fuel production expansion plan in Brazil aims to make this presence even greater worldwide. 

Offshore exploration of oil extracted through the pre-salt layer is the big bet of the global market and China National Offshore Oil Corp seeks to grow in this field with the new field in Brazil 

Executive Huang Yehua, general manager of CNOOC's Brazilian unit, commented on the future of the oil and gas industry in the world and stated that the company has been actively drawing up plans to participate in projects of pre-salt oil fields around the world and will continue to intensify investments in the sector. This is because the productivity of offshore oil projects in these fields is highly high compared to other production blocks.

Thus, he also confirmed that the inauguration of the new field is not the only project focused on the pre-salt and stated that CNOOC also has a stake of 5% in the Búzios field, in the pre-salt area of the Santos Basin. This region currently has an annual production capacity of over 3 million tons of oil and is one of the most efficient in the world. 

And, with the start of operation of the pre-salt project in deep waters located in the Santos Basin, located between Rio de Janeiro and Espírito Santo, CNOOC is increasingly advancing with its growth plan in offshore oil production. in Brazil.

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Ruth Rodrigues
Graduated in Biological Sciences from the State University of Rio Grande do Norte (UERN), she works as a writer and scientific disseminator.