Asset Report

Itapu

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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.

Table of contents

  • Summary
    • Petrobras takes the final investment decision
    • Petrobras secures Itapu Surplus volumes making for a smoother unitisation process
    • With 100% Petrobras ownership, co-participation payment will have a positive effect on the economics
    • Transfer of Rights (TOR) volumes
  • History
  • Oil
  • Gas
  • Oil
  • Gas
  • Capital costs
    • Lease costs
    • Transportation cost
  • Oil
  • Gas
  • Cash flow
  • 2 more item(s)...

Tables and charts

This report includes the following images and tables:

  • Reserves (2P) at 01/01/2025
  • Production (2015-2024)
  • Itapu - Production Profile
  • Itapu (Surplus) - Production Profile
  • Capital Costs Pre-2016 to 2024 (US$ million)
  • Annual Gas Prices
  • Index Map
  • Detail Map
  • Current participation
  • Operating Costs 2024 to 2033 (US$ million)
  • 14 more item(s)...

What's included

This report contains:

  • Document

    Itapu

    PDF 2.43 MB

  • Document

    Itapu

    PDF 2.43 MB