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Asset Report 30 April 2025

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Report summary

Búzios is a giant pre-salt oil and gas field located in the Santos Basin. Petrobras achieved first oil in April 2018. In 2019, a consortium formed by Petrobras (85% and operator), CNOOC (10%) and CNPC (5%) got the rights to produce under a profit share contract the surplus volumes above the 3 billion boe awarded to Petrobras (100%) under the original Transfer of Rights agreement in 2010. The original Transfer of Rights volume corresponds to around 26% of the total reserves. From September 2021 onwards, the two contracts will share production, capital costs and operational costs. For a full analysis, please assess Búzios and Búzios (Surplus) models together.

Summary
Key Issues
- Buzios 7 FPSO starts operations
- Transfer of Rights (TOR) re-valuation
History
- Local content
Reservoir
Hydrocarbon quality
- Oil
- Gas
Work commitments
Extended well tests
Additional discoveries
Oil
Gas
Key development metrics
- Wells
- Facilities
Oil
7 more item(s)...