Galp begins oil exploration off Rio

 In Energy, News

The Portuguese hydrocarbons energy company Galp has announced to the markets that it has begun oil and gas exploration off the coast of Rio de Janeiro in Brazil.

A company statement reads, “Galp Energia began production at the Sépia oil field (Santos basin) with a daily capacity of 180,000 barrels of crude oil and six million square metres of natural gas.
“FPSO Carioca is located approximately 200km off the coast of the State of Rio de Janeiro, in a 2,200 metre stretch of water”, states Galp Energia, adding that this is the “largest operational rig in the Santos Basin which will contribute towards the growth in Galp’s expected output”.
Along the Brazilian coast, Galp has had the prospection and exploration rights to three ultra deep-water oil fields since 2000 in the Santos basin pre-salt cluster.
These are: BM-S-11/11A, Greater Bacalhau (ex-Carcará), BM-S-24 and Uirapuru. The discoveries of oil and natural gas in the basin have made it the largest known accumulation of oil and natural gas in ultra-deep waters.
The project foresees the linking of seven producing wells and four water injection wells.
Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) had decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately US$8Bn in January.