Production
On April 22, 2009, BW Offshore and Petrobras let up the first crude oil from test well at Lula field. The celebration ceremony for the beginning of production was held aboard the BW Cidade de Sao Vicente floating production, storage and offloading vessel on May 1, 2009. The president was expected to visit, but did not show up. The first producing well will provide output of 14,000 barrels per day (2,200 m3/d) while the second well is expected to produce 15,000 barrels per day (2,400 m3/d). By 2020, Petrobras expects to produce up to 500,000 barrels per day (79,000 m3/d). Full field development may include up to 300 producing and injector wells, with total gross oil production reaching 1,000,000 barrels per day (160,000 m3/d) and 1 billion cubic feet (28 million cubic metres) of gas. The drilling of the first 15 wells has cost $1 billion. It is estimated that the total field cost will come to $50–$100 billion owing to the complexity of the geological formation. Up to 12 FPSOs may be needed for full production at Lula. The fields produces 100,000 barrels a day (January 2013).
Read more about this topic: Tupi Oil Field
Famous quotes containing the word production:
“The production of too many useful things results in too many useless people.”
—Karl Marx (1818–1883)
“Every production of an artist should be the expression of an adventure of his soul.”
—W. Somerset Maugham (1874–1965)
“In the production of the necessaries of life Nature is ready enough to assist man.”
—Henry David Thoreau (1817–1862)