Búzios 7 Capital Project - From Conception to Execution

Abstract The purpose of this paper is to present an overview of the Búzios 7 Capital Project, its features, and main achievements. It combines innovative concepts, schedule optimizations and interface management techniques that have allowed a significant reduction in stage-activity duration, mitigation of execution phase risks and application of some technologies for the first time, thus maximizing asset value. The overall approach considered an integrated governance to track project and expedite decision-making process from concept and technology selection to authorization and execution phases. Project conception and execution was based on field maturity and singularity that enabled the adoption of procurement strategies that take into consideration a high-capacity leased unit, full EPCI SURF and an integrated contracting strategy regarding wells construction to enhance market attractiveness. Also, the inclusion of new technologies under development with field proven ones as contingency in case of delays. During the entire project, lessons learned from previous projects, documents standardization and project interface management routines were also carried out. A 5-month reduction in final investment decision (FID) gate combined with high maturity scores was obtained due to the increased agility in the stages of documentation elaboration, revision and independent technical assurance. An integrated procurement strategy including similar projects allowed Búzios 7 to award long lead items contracts as soon as FID milestone was achieved. The project introduced the first high-capacity FPSO of Petrobras (225.000 bpd of oil and 12.000.000 Sm3/d of gas) and novel technologies through its unit e.g. the first leased unit with closed flare concept. Other initiatives seeking for decarbonization was considered such as CO2 stream reinjection into the reservoir, waste heat recovery units and process streams heat integration. A robust well construction design was implemented enabling the first successful installation of a 7 5/8" production string on Petrobras in the well 7-BUZ-74D-RJS of Búzios 7 module, increasing the potential productivity of the well by 14,4%. On the same well there was another successful first, the Shear Gas Lift Valve, increasing the reliability of the gas lift system. The first full EPCI SURF contract in Buzios field was adopted enhancing design and installation schedule and effectiveness. This approach commingled with contractual flexibilities based on the minimum and maximum lengths of lines allowed the project to deal with reservoir information gathered during project execution minimizing risks and allowing optimizations to be captured. These results have reflected a gain of about 5% on Búzios 7 overall oil production curve and enhanced project economics results. The methodologies and results presented help to enhance future offshore endeavors. It addresses a systematic management approach passing through all project phases allowing the adoption of new technologies based on project needs and suppliers’ capacities and an innovative approach to decision-making workflow, procurement strategies, and management practices. The first oil of the Búzios 7 Project is planned to be on the first trimester of 2025 and the maximum capacity of the FPSO (225,000 bpd) by the end of 2025.