Dallas, TX, October 26, 2010 --(PR.com
)-- ReportsandReports announce Tupi, Santos Basin, Brazil Commercial Asset Valuation and Forecast to 2039 Market Research Report in its Store.
Browse complete Report at: Tupi, Santos Basin, Brazil Commercial Asset Valuation and Forecast to 2039 http://www.reportsandreports.com/reports/28772-tupi-santos-basin-brazil-commercial-asset-valuation-and-forecas.html.
The Tupi oil and gas fields were discovered in July 2006, located in block BM-S-11 in the Santos Basin, 155 miles (250km) from the southern coast of Rio de Janeiro. The Tupi Field was the first Santos Basin pre-salt discovery. It is the largest hydrocarbon find in the world since the Kazakh’s Kashagan discovery in 2000, holding estimated recoverable reserves of oil and gas at between five
billion and eight billion barrels of oil equivalent (boe).
The first exploratory well, 1-BRSA-369-RJS, was drilled in a water depth of 7,021 feet (2,140m). The recoverable reserves were confirmed in September 2007 when a second well was drilled on the Tupi field with oil discovery. Tupi oil is a light oil of 28 degrees API, low sulphur (0.37 - 0.39%), with 8 to 12% CO2 content in the solution gas The price of Tupi oil is at par with the Brent Blend price.
Petrobras is operator of the field, and holds a 65% interest in the field. Development of Tupi is executed in two phases, and development is planned through floating, production, storage and offloading (FPSO) facilities vessel. In the first phase of development, long-duration tests of the area were conducted in March 2009. The EWT (Extended Well Test) started in May 2009 at the rate of 14,000 barrels of oil per day (bopd) and increased to 30,000 bopd by the end of 2009.
The second phase of development is expected to commence in late 2010, using a floating production, storage and offload vessel (FPSO) with a capacity of 100,000 barrels of oil equivalent per day and four million cubic meters of gas per day by 2010. It is estimated that around ten FPSOs would be needed for the development of Tupi field and it would reach peak production of around 1,000,000 bopd in the year 2021.
The field life of Tupi is expected to be around 30 years with complete abandonment during 2039. The field is expected to generate $490.24 billion in revenues (undiscounted) during its entire life (starting January 1, 2010) and is expected to yield an IRR of around 14.34%.
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Original Source: Commercial Asset Valuation Market
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