Page 12 - LatAmOil Week 09 2023

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Petrobras sets record for

CCUS gas re-injection in 2022

BRAZIL’S national oil company (NOC) Petro- implementation of CCUS was vital in order to
bras set a record in carbon dioxide capture, use achieve global climate goals.
and geological storage in 2022, reaching a vol- By effectively incorporating CCUS tech-
ume of 10.6mn tonnes per year (tpy) re-injected, nology into its pre-salt projects, the institute
equivalent to 5.8bn cubic metres of CO2. commented, Petrobras is set to play a role in the
According to data released by the Global reduction of CO2. The company now operates
CCS Institute last week, Petrobras’ carbon cap- the largest CCUS project in the world in terms
ture, utilisation and storage (CCUS) operations of annual injection. Accordingly, it was given the
in 2022 accounted for 27% of all the gas re-in- OTC (Offshore Technology Conference) award
jected into Brazil’s pre-salt oilfields throughout in 2015 before receiving the Firjan Sustainabil-
the year. It also made up 25% of the total CO2 ity Award in 2020 in the Climate Change and
injected by the global oil industry. Energy Efficiency category.
Petrobras integrates CCUS technology into Going forward, Petrobras aims to expand its
enhanced oil recovery (EOR) production pro- CCUS capabilities beyond the pre-salt section
cesses at 21 platforms it operates in the pre-salt of the Santos basin. Currently the company is
section of the offshore Santos basin, the Global looking to develop a business model for captur-
CCS Institute noted. Specifically, it said, the ing and storing CO2 in industrial processes. ™
NOC re-injects gas into the reservoirs in ques-
tion, thereby increasing production efficiency
while reducing the intensity of greenhouse gas
(GHG) emissions for each barrel produced. As
a result, it is able to lower both costs and emis-
sions, thereby enhancing its competitiveness in
the market.
Many experts now view CCUS technology
as a promising potential solution to combat-
ting global warming. The International Energy
Agency (IEA) has referred to CCUS as one of
the main drivers that will help the world com-
munity to achieve net-zero carbon emissions in
2050. The Global CCS Institute has expressed
agreement with this sentiment, asserting in
its Global Status of CCS 2022 report that the The NOC uses CCUS solutions at Tupi and other pre-salt fields (Photo: Petrobras)

Brazilian independent Seacrest

raises $260mn via IPO in Norway

SEACREST Petróleo, an independent oil com- by the share offering, the company will finance
pany that focuses on developing mature fields projects designed to triple its oil and gas pro-
in Brazil, revealed last week that it had success- duction in the Espírito Santo basin by 2025. The
fully raised $260mn via an initial public offering company’s holdings in this basin include Cricaré
(IPO) on the Oslo Stock Exchange in Norway. and Norte Capixaba, two clusters acquired from
According to a report from epbr, Seacrest the national oil company (NOC) Petrobras in
traded 443mn new shares in the IPO. The Mer- recent years that comprise 31 onshore fields and
curia Energy group spent $80mn on the new produce 7,000 barrels per day (bpd) of oil.
shares and as a result will hold 30% of the com- The Capixaba Norte cluster is also linked to a
pany’s capital. terminal that can store 500,000 barrels of oil. The
With the additional cash reserves generated deal for this asset is still pending completion.

P12 www. NEWSBASE .com Week 09 01•March•2023