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Petrobras hits 2 billion barrels at Brazil’s Tupi Field

29/09/2020
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Petrobras has announced a milestone development from the Tupi (previously Lula) field, offshore Brazil, having accumulated a total of 2 billion barrels of oil equivalent from their ongoing production.

Petrobras have reached 2 billion barrels of oil equivalent from the Tupi field, offshore Brazil
(Image via Petrobras)

According to the firm, the 2 billion barrel mark was hit back in July, a decade after production began. 

"This accumulated production occurs just ten years after the start of the first permanent production system, the Floating Production Storage and Offloading (FPSO) Cidade Angra dos Reis, and fourteen years after it was discovered, in 2006," the firm announced in a statement. 

It also comes just two weeks after the field was renamed, having been known as the Lula field since 2010. The name change came following a court order - though Lula is the Portuguese word for “squid”, it is also the nickname of Brazil’s former president Luiz Inacio da Silva, currently incarcerated for alleged corruption. “Tupi” was the fields original name from its 2006 discovery until 2010. 

The field is located in 250km off the coast of Rio de Janeiro, in the Brazilian pre-salt layer under 2,000 metres of water. It is considered the largest deepwater field in production with reserves officially estimated at 8 billion barrels but estimated by some to be as high as 30 billion barrels. 

A consortium of Petrobras (with a 65% stake), Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%) have put into operation nine production systems since 2010, recovering 1 million barrels per day. 
The partners are currently working on initiatives to increase the oil and gas recovery factor. 

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Petrobras hits 2 billion barrels at Brazil’s Tupi Field - Time to read 2 min
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