Project Profile
Value: Undisclosed
Location: Shallow water of the Campos Basin, offshore Brazil
Water Depth: 104 metres (341 ft)
Peak Production: 16,056 b/d of oil
Polvo production started at 5,000 b/d 19° API gravity oil from the first well and output was doubled soon after from a second well. Polvo field reserves are estimated at 50 MMbbl and gross production is expected to peak during 2008 at approximately 50,000 b/d of oil. Polvo field was discovered in 2004, in approximately 104 m (341 ft) of water on block BM-C-8. Partners include BP, who are the operator with 60% interest and Maersk Oil holds the remaining 40% interest. Contractors include Keppel who were responsible for the conversion of FPSO Polvo, Excel Engineering who provided preliminary and detailed design and engineering for the Offshore drilling and production platform, a 3000-hp platform drilling rig, 4-leg jacket with 8-skirt piles and Ecosse Subsea will be responsible for flexible installation Polvo has been pumping oil for five years and the field is estimated to hold 50 million barrels of recoverable oil, graded at between 19 and 20 degrees API in carbonate sequences and sandstones. The field was discovered in 2004 and in 2007 Devon Energy reported first oil from the field. In 2010, Maersk Oil acquired the Brazilian assets of SK Energy, including 40% Polvo for US$2.4 billion and by 2011 Devon solds its Brazilian assets including Polvo to BP.
Operators:
HRT Participacoes em Petroleo SA: Operator with 60% interest (after BP farmed out May 2013)
Maersk Oil: 40% interest
Contractors:
Excel Engineering: Flexible installation
Ecosse Subsea: Provided preliminary and detailed design and engineering
EPIC Management Resources: Serve as an asset transition consultant
Keppel: Conversion of the FPSO contract
BW Offshore: Provision and operation of the floating production, storage and offloading vessel
Wood Group: Contract to deliver services to the Polvo A platform. Integrated operations and maintenance services will be provided by Wood Group PSN under the two year contract, which is effective from January 2016. (January 2016)