The development plan for the Lula/Iracema ﬁelds involves appraisal work aimed at maximising data gathered on the reservoir in places where permanent production units are expected to be installed, including appraisal wells and EWT.
In 2012, two appraisal wells were drilled in the areas of Iracema North and Lula Central and the drilling of a well began in Lula West. This was done to reduce risk in the development and to maximise knowledge of the areas with a view to allocating production units. In 2012, two wells were connected to the FPSO Cidade de Angra dos Reis, the first commercial-scale FPSO in the Lula/Iracema fields – an injector well and a production well. So, by the end of 2012, four production wells were active, in addition to one gas injector well and an injection well for alternating water and CO₂in the reservoir in order to improve reservoir management.
In 2013, activities will focus on collecting data from the surrounding area, particularly in the areas of Lula South, Lula Extreme South and Lula North. Within this context, it should be noted that the appraisal and development activities performed in the Lula/Iracema fields led to the increase of the oil recovery factor to 28%, compared to the 23% estimated at the date of the Declaration of Commerciality in December 2010. The increase in the oil recovery factor is an essential element for the creation of incremental value in the project. It should be noted that every percentage point increase in the recovery rate in the Lula/Iracema fields represents an increase of 300 mboe of recoverable resources. To maximise this factor, Galp Energia will test new recovery techniques, including the alternating injection of gas and water to the reservoir and production through horizontal wells. The drilling of a deviated (quasi-horizontal) production well was completed in 2012, which will be ready to go into production in 2013. The drilling of this well has been of particular importance since it was the first of its kind to be drilled in the Brazilian pre-salt.
The field's development plan includes the installation of nine FPSO in addition to the FPSO currently in production at the Lula/Iracema fields. All are to be installed by 2017. Thus, by the end of 2017, the total production capacity installed at the Lula/Iracema fields will be 1.4 mbopd.
During 2012, the project made progress and important decisions were made to ensure the successful implementation and delivery of this world-class opportunity and mitigate operational risk. Thus, the second permanent unit to be allocated to the Lula NE area, the FPSO Cidade de Paraty, was transferred to the BrasFels shipyard in Angra dos Reis, Brazil, for the assembly of the topsides. The FPSO of 120 kbopd should go into production in the second quarter of 2013 in the Lula NE area, and production is expected to take one year and a half to reach the full capacity of the unit.
The construction of the FPSO Cidade de Mangaratiba, which has a production capacity of 150 kbopd and will be allocated to the Iracema South area, continues to progress according to plan, and it is estimated for entry into production to begin in 2014.
In 2012, a letter of intent was signed with the companies Schahin Petróleo e Gás and Modec to lease FPSO Cidade de Itaguaí, which was not in the original plan for the area of Iracema North, which will help to reduce operational risk on the Lula/Iracema fields.
As regards the six replicate FPSOs, the year 2012 saw continued initiatives to ensure their timely delivery. Adicionally to mitigate the execution risk of the project, the consortium has been renting additional FPSO to be allocated to the development of areas Lula / Iracema.