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SPE.org 

Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin. The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US. Majors BP and Chevron have overcome development challenges and delays to launch their respective Clair Ridge and Big Foot projects. The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water. The $28-billion Shah Deniz Phase 2 project off Azerbaijan will supply gas to Europe through the Southern Gas Corridor pipeline system.

  Country: South America > Brazil (0.73)
  Industry: Energy > Oil & Gas > Upstream (1.00)
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