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| The Petrobras P-63 platform sits in the Rio Grande port of Rio Grande do Sul, having arrived from China in November. It is scheduled to begin operating in the Papa Terra field of the Campos basin in mid-July. |
Alex Tischdorf, director of operations for Teekay in Brazil, who have 10 shuttle tankers and three FPSOs operated by Petrobras, says that the quality and quantity of trained Brazilians has been on the increase, however, and that there is plenty of time for that process to continue before production is stepped up.
"There is unlikely to be much development in the industry in the next 12 months," he said, "and Petrobras production will remain flat. Their five-year plan is more promising, though, and the vast majority of their increase will be offshore and dependent on shuttle tankers. Plus the amount of oil being exported will increase, all of which can only be good for the shipping industry."
With regards to the rest of Latin America, Tischdorf is happy to sit tight. "We will have to see what happens with the royalties as to how international oil companies and Petrobras react in the bid round. Our Latin American focus remains on Brazil, but we will keep an eye on what happens in Argentina too."
June will see the first of four Teekay tankers being delivered to BG under a long-term agreement signed in 2011. The Suezmax-size DP-2 shuttle tankers are being built in South Korea, with delivery throughout 2013 to commence 10-year time-charters. The agreement includes certain extension options and vessel purchase options.
Presalt bid round
The first presalt bid round remains slated for November. Brazil's Ministry of Mines and Energy has stated that, as a result of recent discoveries by Petrobras and its partners Galp, Barra Energia and Queiroz Galvão in the BM-S-8 block, estimates for the presalt reserves are now in excess of the previous 35 Bboe, with the Santos block alone potentially holding 1 Bboe.
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