Name: Itapu
Brand: Wood Mackenzie
SKU: 47683
Price: 3720 USD
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Author: Wood Mackenzie

Asset Report 22 September 2025

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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                <div>
Itapu is a pre-salt oil and gas discovery located in the Santos basin of Brazil. Petrobras announced first oil in December 2022. In November 2019, a licensing round offered the volumes discovered in Itapu above the 350 mmboe awarded to Petrobras under the original Transfer of Rights agreement. Petrobras (100% and operator) was the single bidder. The original Transfer of Rights volume corresponds to around 52% 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 Itapu and Itapu (Surplus) models together.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Summary
    </li>

<li class="list__item-toggle">
        <a href="#cd662697-daf9-4edf-a930-4bc7264268b4" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="cd662697-daf9-4edf-a930-4bc7264268b4" aria-expanded="false">
            Key Issues
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        <ul id="cd662697-daf9-4edf-a930-4bc7264268b4" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Petrobras takes the final investment decision
    </li>
    <li class="push-quarter--bottom">
        Petrobras secures Itapu Surplus volumes making for a smoother unitisation process
    </li>
    <li class="push-quarter--bottom">
        With 100% Petrobras ownership, co-participation payment will have a positive effect on the economics
    </li>
    <li class="push-quarter--bottom">
        Transfer of Rights (TOR) volumes
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        History
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<li class="list__item-toggle font-semibold">
        Capital costs
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        <a href="#9c050960-baee-42a6-aa01-c68485c8bfdd" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="9c050960-baee-42a6-aa01-c68485c8bfdd" aria-expanded="false">
            Operating costs
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                <li class="push-quarter--bottom">
        Lease costs
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        Transportation cost
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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

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         <li class="list__item push-quarter--bottom"></li><li class="list__item push-quarter--bottom"></li><li class="list__item push-quarter--bottom">Reserves (2P) at 01/01/2025</li>
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        <ul class="list list--bullets panel-toggle" id="e938265a45e74e21beb3881eeb30ee11">
            <li class="list__item push-quarter--bottom">Production (2015-2024)</li><li class="list__item push-quarter--bottom">Itapu - Production Profile</li><li class="list__item push-quarter--bottom">Itapu (Surplus) - Production Profile</li><li class="list__item push-quarter--bottom">Capital Costs Pre-2016 to 2024 (US$ million)</li><li class="list__item push-quarter--bottom">Annual Gas Prices</li><li class="list__item push-quarter--bottom">Index Map</li><li class="list__item push-quarter--bottom">Detail Map</li><li class="list__item push-quarter--bottom">Current participation</li><li class="list__item push-quarter--bottom">Operating Costs 2024 to 2033 (US$ million)</li>
                <li>14 more item(s)...</li>
        </ul>
        
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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Itapu</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>2.43 MB</span>
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</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Itapu</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>2.43 MB</span>
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