Oil producer BG Group (BG.L) today announced that it has begun production earlier than expected at its Iracema asset, offshore of Brazil. The area was a significant discovery as part of the Santos Basin project.
The Cidade De Mangaratiba FPSO is able to process around 150000 barrels of oil a day and 283 cubic gas making it the largest FPSO vessel current at the block. Another FPSO the Cidade De Ilhabela is due to start production by the end of the year and together it is expected these vessels will at 82000 barrels of oil per day net capacity to BG Group.
Sami Iskander, BG Group COO said: “The start-up of the Cidade de Mangaratiba FPSO marks first production from the Iracema discovery and demonstrates the excellent progress we are making in Brazil. Like the Lula and Sapinhoá developments, Iracema enters commercial production only around five years after its discovery. This fast-paced development in the Santos Basin reflects the quality of the reservoir and our ongoing close working relationship with Petrobras”
Oil producer BG Group (BG.L) today announced that it has begun production earlier than expected at its Iracema asset, offshore of Brazil. The area was a significant discovery as part of the Santos Basin project.
The Cidade De Mangaratiba FPSO is able to process around 150000 barrels of oil a day and 283 cubic gas making it the largest FPSO vessel current at the block. Another FPSO the Cidade De Ilhabela is due to start production by the end of the year and together it is expected these vessels will at 82000 barrels of oil per day net capacity to BG Group.
Sami Iskander, BG Group COO said: “The start-up of the Cidade de Mangaratiba FPSO marks first production from the Iracema discovery and demonstrates the excellent progress we are making in Brazil. Like the Lula and Sapinhoá developments, Iracema enters commercial production only around five years after its discovery. This fast-paced development in the Santos Basin reflects the quality of the reservoir and our ongoing close working relationship with Petrobras”