Camarupim

Camarupim Oil and Gas Field Profile

Location

The Camarupim Oil and Gas Field is located in the Espírito Santo Basin, offshore Brazil. The exact coordinates are -19.935, -39.62 (WGS 84).

Operator and Ownership

As of 2023, BW Energy has assumed operatorship and outright ownership of the Camarupim Cluster, which includes the Camarupim and Camarupim Norte gas fields. This transition was completed after BW Energy paid Petrobras $12.2 million, along with an initial $3 million when the contract was signed, and agreed to contingent payments of up to $60 million based on future development and Brent price.

Discovery and Production

• The field was discovered in 2003.
• Production started in 2009.

Reserves

As of the last available data in 2015:

• Gas Reserves: Original volume in place of 5,267.72 million m³.
• Oil Reserves: Original oil in place of 5.53 million barrels.

Cumulative Production

As of 2015:

• Gas Production: Cumulative production of 1,633.79 million m³.
• Oil Production: Cumulative production of 1.96 million barrels.

Field Details

• The Camarupim Cluster is situated in water depths ranging from 100 to 1,050 meters.
• The cluster includes the non-producing Camarupim and Camarupim Norte gas fields. BW Energy plans to develop these gas resources via a subsea gas export line.

Development Plans

• BW Energy is preparing to develop the gas resources in the Camarupim Cluster. This includes acquiring and controlling a subsea gas export line as part of the transaction.
• While the Camarupim and Camarupim Norte fields are currently non-producing, BW Energy's development plans aim to bring these fields into production.

Financial and Operational Context

• The acquisition of the Camarupim Cluster by BW Energy also includes potential contingent payments to Petrobras based on future performance.
• BW Energy's overall strategy involves targeting proven offshore oil and gas reservoirs through low-risk phased developments, leveraging existing production facilities to reduce time to first oil and cash flow.

Current Status and Future Outlook

• As part of BW Energy's portfolio, the Camarupim fields are integral to the company's growth strategy in Brazil.
• While specific production targets for the Camarupim fields are not detailed, BW Energy's broader plans in Brazil include significant development activities, such as the Golfinho infill wells and the Maromba development, which are expected to enhance overall production in the region.