Oil extraction in Brazil’s promising presalt offshore wells costs about $8/bbl, Petrobras CEO Pedro Parente said at an event in Sao Paulo on Aug. 8.
Discovered only 10 years ago, the presalt area has rapidly become the top priority for Petrobras and other oil majors holding exploration rights to some of its large reserves.
Output from presalt wells surpassed the combined volumes from all other fields in the country for the first time in July.
“Presalt, today, has an extraction cost of $8 per barrel. The problem was the delay in exploring presalt,” Parente said.