On January 9, the Tupi/Iracema field, located in pre-salt Santos Basin, resumed production of 1 million barrels of oil per day, a level last achieved in 2019. The milestone confirms recovery of one of Brazil’s most strategic offshore assets and reflects execution of Petrobras’ medium-term production strategy.
The result aligns with Petrobras’ 2026–2030 Business Plan, which prioritizes higher output through efficiency gains, improved reservoir management, and optimization of existing infrastructure rather than accelerated capacity additions. During 2025, Petrobras connected 11 new wells to Tupi/Iracema, bringing total drilled wells in the field to more than 150, supporting stabilization of plateau production.
Petrobras has also indicated ongoing technical and economic assessments covering additional well drilling, life extension of existing production units, and the potential installation of a new production unit from 2031 onward, subject to partner alignment and regulatory approvals. These measures aim to sustain long-term output while preserving capital discipline.
The performance reinforces competitiveness of Brazil’s pre-salt, which currently accounts for around 80% of Petrobras’ total production, and highlights continued relevance of mature, large-scale fields when supported by subsea interventions and reservoir optimization. Tupi/Iracema is operated by Petrobras, in partnership with Shell, Galp, and PPSA.
From an offshore market perspective, the recovery of 1 million bpd at Tupi/Iracema signals sustained demand for subsea services, well interventions, and life-extension solutions in the Santos Basin, even as new frontier developments advance. How do you see this influencing offshore contracting and asset utilization over the next cycle?
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