Carmópolis Cluster Sale

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One of the oldest and biggest onshore assets in Brazil, the Carmópolis field was put on sale last year by Petrobras along with 10 other fields as the “Carmópolis Cluster”. Earlier this week, the company announced the “non-binding offers” stage for the areas.

Production began on Carmópolis at the end of 1963 and rapidly reached 20,000 bbl/day of oil by 1967. After new discoveries and extensive drilling, the cluster production peaked at around 35,000 bbl/day in the mid-to-late 1980s through more than a thousand producing wells.

Another development effort was made in the 2000s, and even though it was smaller than the previous one, oil production was once again close to 35,000 bbl/day, this time through over 1,500 producing wells.

However, since 2009, the cluster has seen a steep decline in production, and since 2015 drilling activities have been largely reduced. Today, with more than 3,700 drilled wells – 13% of all wells ever drilled in the country – and 1,300 producing wells, production averages around 9,200 bbl/day of oil, 300 boe/day of associated gas, 150,000 bbl/day of water as well as 160,000 bbl/day of water injection (current cluster GOR = 0.03, Sw = 0.94).

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