Total announced that first oil from the from the giant Libra oilfield in Brazil offshore Rio de Janeiro operated by Petrobras alongside a consortium that includes Shell and CNPC.
The field is located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil.
Total said the floating production, storage and offloading (FPSO) unit Pioneiro de Libra with a capacity of 50,000 barrels of oil had started production from the field. The start-up of the early production system will generate revenue while also enabling technical data to be collected to optimize the subsequent development phases.
“Total is pleased that production has begun on the giant Libra field, which is a multi-billionbarrel resource. Libra is a major asset in Total’s portfolio and fits into our strategy of investing in highly competitive projects with low break-even points,” Arnaud Breuillac, Total’s exploration and production president, said in a statement.
Brazil’s Petrobras has a 40 per cent stake in the field. Total and Shell hold 20 per cent each, while China’s CNOOC and CNPC each hold 10 per cent.