Pao De Acucar

Pao De Acucar Oil and Gas Field Profile

The Pao De Acucar oil and gas field is located in the ultra-deepwater of the Campos Basin, approximately 200 km offshore Rio de Janeiro, Brazil. It is part of the BM-C-33 block, situated in water depths of up to 2,900 meters.

The field was discovered in 2012, along with other discoveries in the BM-C-33 block, including Gavea and Seat. The block was acquired by Repsol Sinopec Brasil at an auction held by Brazil’s National Petroleum Agency in 2005. Equinor took over the operatorship of the block in 2016.
The field is owned by a consortium of companies: Equinor (35%), Repsol Sinopec Brasil (35%), and Petrobras (30%).

Development Stage: The project is currently in the construction phase, with the final investment decision (FID) approved in May 2023. Commercial production is expected to start in 2028.
Development Concept: The field will be developed using a floating production, storage, and offloading (FPSO) unit. The FPSO, supplied by MODEC, will be capable of processing both gas and oil/condensate. It will have a minimum crude oil storage capacity of 2 million barrels and will be able to produce approximately 125,000 barrels of crude oil per day and 565 million standard cubic feet of associated gas per day.

FPSO: The FPSO vessel, designed with a full double-hull configuration, will be stationed 200 km from the coast of Rio de Janeiro. MODEC is responsible for the design, construction, and initial operation and maintenance of the FPSO.
Subsea Systems: The project includes a subsea system, with TechnipFMC awarded the contract for the subsea umbilicals, risers, and flowlines (SURF). This includes Subsea 2.0 tree systems, manifolds, jumpers, rigid risers and flowlines, umbilicals, and other subsea equipment.
Gas and Oil Export: Crude oil will be offloaded by shuttle tankers and transported to the international market via ship-to-ship transfers. Gas will be transported via an integrated offshore gas pipeline to an onshore gas receiving facility at Petrobras’ Cabiúnas terminal in Macaé, Brazil, and then to the domestic gas transmission network.

The field was appraised through several wells, including the Pão de Açúcar, Gavea, and Seat wells. The Pão de Açúcar well encountered a 480m hydrocarbon column, while the Gavea A1 well encountered a 175m hydrocarbon column in a high-quality reservoir of silicified carbonates.
The estimated reserves of the BM-C-33 field cluster, which includes Pão de Açúcar, are over one billion barrels of oil equivalent (boe).

Production from the Pao De Acucar field is expected to start in 2028 and peak in 2030. Based on economic assumptions, production will continue until the field reaches its economic limit in 2050.

The development cost of the project is estimated to be around $9 billion.
Key contractors involved include:
- MODEC: Responsible for the FPSO design, construction, and initial operation.
- TechnipFMC: Awarded the contract for the SURF system and other subsea equipment.
- Mitsui E&S and TechnipFMC: Main EPC contractors.
- Other Contractors: Baker Hughes, Valaris, Vallourec, and IKM Holding.

The project is expected to generate both direct and indirect jobs and contribute to industrial growth in Brazil. It will also support the natural gas market liberalization in Brazil and help achieve zero net global emissions by 2050, aligning with Repsol Sinopec Brasil's commitments.