Use of Campos Basin in producing oil in Brazil
Declining of the production of output from wells in Campos Basin which is Brazil’s oldest oil producing region is a major concern for Petrobras as the major digging is done from the wells available in this region. The Campos Basin produces around 80% of petroleum and oil in Brazil which is also the biggest region for operating for Petroleo Brasileiro Petrobras SA. The reason behind declining of the production from the wells is due to the natural decaying of the wells. In order to come over this and increase the production of oil and petroleum, Petrobras is planning to bring new wells into operation during the second half of this year.
What is being done in order to increase the production?
In order to overcome the declining production and increasing the production from the wells, Petroleo Brasileiro Petrobras SA is planning to extract oil and gas from new wells in the Campos basin. Moreover, the company is also divesting their assets to shore up the finances for its five year investment program which would help in increasing their business and also improving the condition of the company. In August this year, Petrobras experienced an increase in production of oil and petroleum.