One Energy News

Tag: santos basin

  • Búzios field reaches record production of 1.1 million barrels per day

    Búzios field reaches record production of 1.1 million barrels per day

    Brazil’s Búzios pre-salt field reached a record average production of 1.1 million barrels of oil per day, surpassing the previous milestone of 1 million bpd achieved in October 2025.

    Operated by Petrobras in the Santos Basin, Búzios is Brazil’s largest producing offshore oil field and accounts for nearly one-third of Petrobras’ operated production in Brazil. Petrobras expects production to continue increasing as additional wells and production units enter operation.

    Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.

  • Shell expands Santos Basin portfolio

    Shell expands Santos Basin portfolio

    Shell has finalized the concession agreements it secured during ANP’s 5th Permanent Offer Cycle in June, reinforcing its strategic footprint in the Santos Basin and broadening its deepwater operations. The S-M-1819, S-M-1821, S-M-1912, and S-M-1914 blocks give the company full (100%) ownership, along with a seven-year exploration period followed by 27 years of production rights.

    The signing bonuses amount to roughly R$ 21.3 million. According to the company, this move underscores Shell’s dedication to Brazil’s energy security and brings its portfolio in the country to a total of 72 contracts.

  • BP Now Set to Begin Drilling in the Pau-Brasil Well

    BP Now Set to Begin Drilling in the Pau-Brasil Well

     Breaking News: BP Now Set to Begin Drilling in the Pau-Brasil Well!

    Exciting developments in the Santos Basin as BP Energy about to see published the license to commence drilling in the Pau-Brasil well, backed by the green light from IBAMA. Valaris Limited DS-15 drillship is on location waiting for the license, following the oil spill drills. The rig daily rate is of $410,000 under an 80-day contract, amounting to a total of $33 million. Both the vessel and crew are on standby, ready to initiate the drilling operations, hopefully as from today.

    Currently contracted with TotalEnergies until September, the DS-15 drillship has a unique opportunity for short-term engagements. In 2024, the vessel was temporarily released for contracts with Petronas and now BP. Following this assignment, it will return to Total Energies, albeit at a reduced daily rate of $254,000.

    The Pau-Brasil well, acquired by bp in the 5th Sharing Round in 2018, sees a joint venture with CNOOC Petroleum (30%) and Ecopetrol (20%). This collaboration underscores BP’s strategic investment in the region and their commitment to unlocking the potential of Brazil’s energy resources.

    Stay tuned for more updates as we witness another milestone in BP’s journey in the Santos Basin!

  • Investments coming

    Investments coming

    The ANP (National Oil Agency) reported that investments in the production phase of Brazil’s current oil and gas contracts will total just over R$130 billion in 2024. The Santos Basin will receive the majority of investments: 60.4%, followed by Campos Basin (28.17%) and Sergipe Basin (6.26%). The majority will be allocated to platform works with R$37 billion, followed by line launch activity with R$27.7 billion and well drilling with R$12.4 billion.

    The ANP also highlighted that by 2028 R$514 billion will be invested in the production phase of current contracts for the exploration and production of oil and natural gas in Brazil. Of this total, the Santos basin stand out with 61%, and Campos with 28% of investments. Until then, 4.195 million boed of production are estimated.