Deep Water Oil: Brazil - Petrobras Case Study

Brazil is one of the world’s leading producers of oil and gas, making it a major contender in the deep water oil market. In particular, Petrobras, the state-controlled Brazilian oil company, is the largest exploration and production company in the region. The need for deep-water oil rigs and exploration has become increasingly important for Petrobras in recent years, to ensure that it remains competitive in the global oil industry. In 2006, Petrobras began an ambitious project to expand its ability to produce deep-water oil and gas in the pre-salt area of the Santos Basin which has proven to be a key area for the discovery of highly productive fields of oil and gas. Petrobras’ deep-water development strategy has involved the deployment of advanced exploration, production, and transportation technologies, including purpose-built offshore platforms, such as the Cidade de Itajaí, as well as floating production systems, such as the FPSO P-155 and P-156. The company has also invested in the procurement and development of new technologies, such as deep water drilling, horizontal directional drilling, and production well optimization. With investments in the area of deep water oil and gas development, Petrobras is positioning Brazil as a major player in the global oil industry, and helping the country’s economy to grow and become competitive in the international market. Petrobras’ deep-water operations have already