BG Group has begun commercial production from a third floating production vessel off Brazil.
The Cicade de Paraty is the second unit deployed on the groups’ Lula discovery, approximately 300km off the coast of Brazil.
The vessel can process up to 120,000 barrels per day and 176million cubic feet of gas per day, though the fist month’s production will be limited to around a tenth of that.
“We now have three FPSO vessels on-stream in the Santos Basin, two of which have started production this year alone as our development programme ramps up,” said Chris Finlayson, BG Group chief executive.
“Looking ahead, the remaining 12 FPSOs committed for the first phase development programme are on schedule, with costs tracking on or under budget. The next two dedicated FPSOs in the programme will start production during 2014.
“The development programme for our offshore interests in Brazil is going very well and we expect this first phase to deliver some
500 000 barrels of oil equivalent per day to BG Group at current equity levels by 2020.”
The company expects its Brazilian interests to yield more than 600,000 barrels of oil equivalent per day after further development. Peak production from the Cicade de Paraty is expected to be achieved in the second half of 2014.
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