RIO DE JANEIRO & BEIJING, Jan. 3, 2026 – Petrobras, Brazil's state-owned oil giant, officially announced the commissioning of the Búzios Phase 6 project on December 31, 2025 (local time). As a key expansion of the world's largest deepwater pre-salt oilfield, the project is co-developed by Petrobras as the operator and its partners including CNOOC Limited, marking a new milestone in Sino-Brazilian cooperation in ultra-deepwater oil and gas development and injecting strong impetus into the global energy supply system.
Located in the Santos Basin offshore southeastern Brazil, approximately 250 kilometers east of Rio de Janeiro, the Búzios Phase 6 project operates in an ultra-deepwater environment with water depths ranging from 1,900 meters to 2,200 meters. Leveraging the mature "FPSO + Subsea Production System" development model tailored for pre-salt reservoirs, the project has deployed a total of 13 development wells, including 6 production wells and 7 injection wells, to ensure efficient and stable hydrocarbon extraction.
The core of the project is the FPSO P-78, a state-of-the-art floating production, storage and offloading vessel. With an overall length of 345 meters and a height of 180 meters (to the top of the flare), the FPSO P-78 boasts impressive processing capabilities: it is designed to produce 180,000 barrels of crude oil per day and process 7.2 million cubic meters of natural gas daily, with a crude oil storage capacity of 2 million barrels. Notably, the natural gas processed by the project will be connected to Brazil's Rota 3 gas pipeline for onshore supply, which is expected to increase Brazil's domestic natural gas supply by up to 3 million cubic meters per day and strengthen the country's energy security.
In terms of technological innovation and environmental protection, the Búzios Phase 6 project sets a new benchmark for green deepwater development. The FPSO P-78 incorporates a series of advanced low-carbon technologies, including an exhaust gas heat recovery system, variable speed drives for pumps and compressors, and a closed flare system. These technologies not only improve energy utilization efficiency but also significantly reduce greenhouse gas emissions, achieving a 15 kg CO₂e per barrel reduction in carbon intensity compared to conventional deepwater projects, in line with global energy transition trends and Petrobras' decarbonization goals. Luis Schmal, General Manager of Petrobras' Búzios Oilfield, emphasized that the project is a successful example of close collaboration and excellent execution between Brazil and China, highlighting the outstanding performance of the FPSO in both productivity and energy conservation.
In terms of equity structure, Petrobras holds an 88.99% stake as the operator, while CNOOC Petroleum Brasil Ltda., a wholly-owned subsidiary of CNOOC Limited, holds a 7.34% interest in the integrated development project of the Búzios oilfield. CNODC Brasil Petróleo e Gás Ltda. holds the remaining 3.67% stake. This cooperative model combines the technological strength and operational experience of global energy giants, laying a solid foundation for the smooth progress of the project. Huang Yehua, General Manager of CNOOC Brasil, stated that CNOOC has been vigorously promoting key technological research in deepwater oil and gas field development, continuously fostering new quality productive forces in the marine energy sector, and enhancing its competitiveness in global deepwater oil and gas development through such international cooperation projects.
The commissioning of the Búzios Phase 6 project has significantly enhanced the overall production capacity of the Búzios oilfield. Prior to this, the daily output of the Búzios oilfield had exceeded 1 million barrels in October 2025; with the addition of the FPSO P-78, the field's daily production capacity has now surpassed 115 barrels, further consolidating its position as the world's largest deepwater oilfield. Magda Chambriard, President of Petrobras, noted that the Búzios oilfield, as Brazil's largest oilfield in terms of reserves and production, will play a crucial role in helping Petrobras achieve its 2026 production target of 2.5 million barrels of oil per day and expanding Brazil's natural gas supply.
Industry analysts pointed out that the successful commissioning of the Búzios Phase 6 project is of great significance against the backdrop of the current global energy market volatility. As a high-quality deepwater pre-salt project with excellent resource endowment and advanced low-carbon technologies, it not only provides a stable and reliable energy supply for the global market but also sets a model for international cooperation in deepwater oil and gas development. For CNOOC, the project's contribution to equity production will further optimize its global asset layout and enhance its long-term profitability. Looking ahead, with the continuous advancement of subsequent phases of the Búzios oilfield, the cooperation between Chinese and Brazilian energy enterprises is expected to achieve more fruitful results, contributing to the stable development of the global energy industry.
