Brazilian indie eyes CCUS potential of mature fields

PetroReconcavo is analysing potential alternatives for carbon capture, utilisation and storage (CCUS) at its mature onshore fields in the Reconcavo and Potiguar basins in Brazil.

The Brazilian player, founded over 20 years ago with the aim of revitalising operations at ageing fields, operates 58 onshore concessions that produced in May about 25,500 barrels of oil equivalent per day.

A few years ago, the company expanded its operations by acquiring assets divested by Brazilian oil giant Petrobras, and now PetroReconcavo chief commercial officer Joao Vitor Moreira said CCUS could be on the cards for some of these fields.

“We are in a very broad process of studying the assets we purchased,” he told an audience at the ESG Energy Forum in Rio de Janeiro state.

“There is an ideal condition in some of the reservoirs that still needs to undergo proper screening, but we believe there is large potential (for CCUS) in both basins in which we operate.”

Moreira explained that PetroReconcavo studied, in the past, ways to use carbon dioxide as a means for enhanced oil recovery at its fields but later aborted the idea.

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PetroReconcavo normally uses water injection to improve oil recovery factors in the Potiguar and Reconcavo basins.

However, with the energy transition becoming more important each day, the company decided to have a fresh look at its assets to potentially come up with ways to apply CCUS.

“Several of our fields could be good candidates for CCUS, which in the future would allow us to reap the benefits associated with it,” Moreira added.