We have been producing increasingly more, and faster
Our daily oil output at the pre-salt progressed from the average of approximately 41,000 barrels per day, in 2010, to 1 million barrels per day in mid-2016, a nearly 24-fold increase.
Average output from the pre-salt
2010 41,000 BPD
2014 500,000 BPD
2016 1 MILLION BPD
The comparison with our own output track record shows the dimensions of this result: It took 45 years, from the creation of our company, for us to reach the output of the first million barrels of oil, in 1998.
The fast growth in production proves the high productivity of the wells in operation in the pre-salt, and represents a significant milestone in the oil industry, especially because the fields are located in deep and ultradeep waters.
Number of wells x Output
POST-SALT 1984 4.108 WELLS 41,000 BARRELS PER DAY
PRE-SALT 2016 52 WELLS 500,000 BARRELS PER DAY
Another fact that shows the high productivity of the pre-salt is the number of producer wells compared to the output volume. In 1984, we used to need 4,108 producer wells to reach 500,000 barrels per day. In the pre-salt, though, we reached double that output with only 52 wells.
Without giving up the world’s best operational practices, we have been drilling wells in the pre-salt in less and less time. The average time it takes to build a well in the Santos Basin pre-salt region, for example, dropped 71 percent between 2010 and 2016, with the progress made in knowledge about geology, with the introduction of state-of-the-art technologies, and improved design efficiency.
Mean construction time for offshore wells
2010 310 DAYS
2015 128 DAYS
2016 89 DAYS
With the knowledge accumulated in our operations and with technological innovation, the average cost to lift pre-salt oil has dropped gradually over the past few years. From $9.1 per barrel of oil equivalent (oil + gas), in 2014, to $8.3, in 2015, and less than $8 per barrel in the first quarter of 2016.