Petrobras

Brazil’s national oil company details the results of 6 years of real-time drilling monitoring. The next step is to move toward optimization, then automation.

Petrobras has cut in half the time and cost of drilling some wells using its patented True One Trip Ultra Slender (TOTUS) concept. The technique can be used in certain mature fields of the postsalt where geological and reservoir characteristics favor its application.

The 3-year contracts were awarded to Solstad, OceanPact, and Fugro.

Operators celebrate first major deepwater project sanctioned since the early-2020 oil crash.

The announcements are part of the company’s divestment strategy to reduce debt and improve capital.

Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The tally of these global majors’ losses in a single quarter tops $30 billion.

The Búzios-5 production system is planned to include the interconnection of 15 wells to a floating production, storage, and offloading vessel in two phases.

Atlas and Fênix, also from Petrobras, are the two largest supercomputers in Latin America.

Petrobras has taken a 65.3-billion Brazilian real ($11.2-billion) impairment on its exploration and production (E&P) assets, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent.

Operations during the COVID-19 pandemic and actions to decarbonize operations are among the highlights.