The Chinese-built platform is part of a multi-year plan that will turn the South American giant into a leading crude exporter.
Petrobras
A new agreement between each country’s state-owned oil company aims to deepen cooperation in oil and gas exploration and development.
The 93,000 tonne Sepetiba is bound for offshore oil fields in the Santos Basin and is capable of producing 180,000 barrels per day.
China’s largest offshore oil and gas producer has a US$2 billion stake in the Buzios oilfield, the largest deepwater pre-salt oil field in the world.
Country’s second-largest oilfield expected to produce 1.7 million bpd by 2026, representing one-third of company’s total output.
Independent refineries in Shandong import less than half July 2020 tonnage as cheaper barrels from Russia and Iran edge out Brazilian crudes.
Ultra-deepwater, pre-salt oilfield, which started operation last week, can produce up to 180,000 barrels per day and is expected to hit peak production by December.
Ultra-deepwater field 180 kilometres off Rio de Janeiro already producing up to 180,000 barrels per day.
Regulatory approval has not yet been granted but the deepsea area under consideration is forecast to be highly lucrative.
