With a target depth of 5,850 meters, the first appraisal well was spudded on Libra field off the coast of Brazil in early August. The super-giant field, located 200 kilometers offshore, has estimated resources of between 8 billion and 12 billion barrels in reservoirs that lie under a thick layer of salt. The well kicks off several years of work that will allow Total and its partners1 to improve their understanding of the gigantic field.
“It’s hard to grasp the sheer scale of Libra," explains Ladislas Paszkiewicz, Exploration & Production’s Senior Vice President, Americas. “The field covers 1,550 square kilometers and we think it could require as many as 12 FPSOs2 to develop.”Once the first systems have been installed, production is scheduled to begin in 2017 and plateau at 1.3 million barrels per day in 2030.
In 2013, Total significantly increased its operations in Brazil, a country that accounts for 40% of oil discoveries in the last five years, by acquiring interests in 10 exploration licenses and a 20% stake in the Libra discovery.
(1) A consortium comprising Petrobras (operator, 40%), Total (20%), Shell (20 %) CNOOC (10%) and CNPC (10%).
(2) Floating production, storage and offloading vessel.