Energy Transition is the Focus of Petrobras' Participation on its Third Day at OTC

Source Company Press Release
Company Petrobras (IFRS US$ Current), CNOOC Limited, CNPC, Shell Plc, TotalEnergies SE
Tags Country: Brazil, Renewables: Renewables News, Segment: CCS/CCUS, Power, Sustainability: ESG/CSR
Date May 04, 2023

Petrobras’ achievements in decarbonization and how the company is preparing itself technologically to act in the low-carbon economy were the main themes of presentations by the Chief Energy Transition and Sustainability Officer, Maurício Tolmasquim, and by the executive manager of the Petrobras Center for Research and Innovation (Cenpes), Maíza Goulart, last Wednesday (5/3), during events at the Brazil-Texas Chamber of Commerce (Bratecc) and at the Offshore Technology Conference (OTC) in Houston.

Tolmasquim showed how Petrobras became one of the companies with the lowest greenhouse gas emissions in the world by reducing its absolute emissions by 39% between 2015 and 2022. He also highlighted the company's decarbonization results in the exploration and production (E&P) segment:
- Petrobras' E&P segment emission intensity dropped by half between 2009 and 2022;
- The Búzios and Tupi fields, in the pre-salt layer, account for half of Petrobras' production and operate among the most decarbonized in the world, with around 9 kgCO2e/boe, while the world average is 17.6 kgCO2e/boe.
- Absolute methane emissions dropped by 55% between 2015 and 2022.

Furthermore, in the last decade, renewable energies have become more competitive. Studies by Lazard and IHS Global Scenarios show that, between 2009 and 2021, the cost of solar energy dropped by 90% and that of onshore wind dropped more than 70%. In that period, the capacity generated by solar energy rose from 21 GW to 837 GW and from onshore wind, from 147 GW to 762 GW worldwide.

These are two important moves for the world to achieve neutral emissions by 2050. “The resilience of low-cost, low-emission oil production will secure the resources needed for a fair and sustainable energy transition. We are focused on portfolio diversification and preparing the company for the future,” highlighted Tolmasquim.

New technologies to reduce emissions

Petrobras developed a first-of-its-kind technology in the global oil and gas industry, capable of removing high-CO2 gas still at the bottom of the sea: Hi-SEP. Developed and patented by Petrobras, this solution will separate the gas rich in CO2 from oil, still on the seabed, and reinject this gas into the reservoir, preventing its emission into the atmosphere and increasing project efficiency.  The Mero 3 field – located in the Libra block, in the Santos Basin pre-salt, southeastern Brazil – will be the first to use the new technology.

“This innovation still has the potential to reduce the surface gas processing plant, reducing the project’s CAPEX (initial costs) and OPEX (ongoing costs), as well as the overall complexity of the FPSO. Without a doubt, it will represent a turning point for the O&G industry geared towards a low carbon future,” said the executive manager of Cenpes, Maíza Goulart.

In addition to Hi-SEP, Maíza presented another low-carbon technology being developed by Petrobras: “All Electric.” The innovation is based on the electrification of all processing systems in the new surface installations of the production platforms. The purpose is to increase energy efficiency and reliability in the FPSO, with a net reduction of CO2 emissions by up to 20%. Considering other decarbonization technologies foreseen in new platform projects, emission reduction could reach 30%.

The “All Electric” configuration will be deployed for the first time on the P-84 and P-85 oil platforms, which will be installed in the Atapu and Sépia fields, respectively, in ultra-deep waters of the Santos Basin.

“These technologies generate a high positive impact on our performance, optimizing production, improving economic results for the fields, while reducing the carbon footprint in these projects. We know we have to remain resilient on the long journey to achieve greenhouse gas emissions neutrality by 2050. For this reason, we have been investing in technologies, as they will be the key to achieving the ambitions of a low carbon world, at a competitive cost for society,” described Maíza.

Mero field

The Mero field is operated by the Libra Consortium and led by Petrobras - with a 40% stake - in partnership with Shell (20%), Total (20%), CNPC (10%), and  CNOOC Limited (10%). The consortium also has the participation of public company Pré-Sal Petróleo (PPSA), which manages the contract.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd