The company was awarded at the event for innovations implemented in the Libra field, the largest pre-salt discovery; Castello Branco highlights focus on higher return fields such as pre-salt


The Libra project, the largest pre-salt discovery to date, was the highlight of the morning of the second day of OTC Brasil 2019. Petrobras and its consortium partners were awarded the Distinguished Achievement Awards for the Long Term Test (LTD) of the field.

Petrobras CEO Roberto Castello Branco stressed Libra’s importance, its high productivity and all the innovation and technology involved in the exploration and development phase of the field, as well as the challenge for the company, the operator of the area, and for the partners (Shell, Total and the Chinese CNOOC and CNPC) of the venture.

According to the executive, Libra is an example that Petrobras has been pursuing. “We are increasingly seeking to increase efficiency and operate at a low cost in a new world industry scenario in the face of the energy transition,” said Castello Branco, during the presentation of the award during the OTC Brasil 2019 lecture luncheon.

OTC Brasil chairman, Marcos Assayag, stressed the importance of the technological advances implemented in the innovative, ultra-deepwater project at the global level, especially in a field with giant oil and gas reserves.



Castello Branco also said that Brazilian industry and Petrobras have to be guided by the constant pursuit of competitiveness, in a new environment from the growth of US production – from importers to exporters of oil and gas in a few years. “This advent changed the market and also promoted reindustrialization in the United States. We have to be even more competitive, efficient and low cost, always having safety as a fundamental premise, ”he said.

Roberto Castello Branco
Roberto Castello Branco-Petrobras

The president of Petrobras also highlighted the opening of the Brazilian market to new agents in all links of the chain, citing exploration and production, refining and the natural gas segment.

“More competition and the entry of new agents is good for everyone, including Petrobras,” said the executive.

The company’s focus, reiterated Castello Branco, to invest in fields with the highest possible return, such as Libra and Búzios.

In addition to Libra, OTC Brasil 2019 chose former director of Cenpes (Petrobras research center) and current president of Prumo Logística, Carlos Tadeu Fraga, for the Distinguished Achievements Awards for individuals for his leadership in developing new technologies for pre-salt.

According to IBP president-elect Clarissa Lins, Tadeu Fraga led the strategy of transforming Petrobras’ investments in research and development. “He represents what we are most proud of in a tanker culture: leadership, commitment, integrity, dedication and humility,” he said when he presented the award.

Fraga thanked Petrobras for the opportunity it had. “In 34 years, I’ve had amazing experiences, I’ve met amazing people inside and outside the company, who make this fantastic industry,” he said, stressing that it was the right time, in the right place and with the right people.


Adam Champagne
Adam Champagne-Halliburton

At the opening breakfast of the second day of the event, Halliburton regional manager Adam Champagne presented the case of integrating operators and suppliers into the Libra project. “The project was a success, but it required cultural change on both sides, from operators and suppliers. This was crucial for the success of pre-salt in Brazil, “he said.

The Pioneer Libra FPSO was built with an innovative approach to simultaneous oil injection and gas production, with pressure measurement in different parts of the field from remote monitoring devices. The TLD project played a vital role in mitigating risks from a string of accelerated billion-dollar developments, with dynamic reservoir information fueling the project design.


OTC Brasil is sponsored by Petrobras, Equinor, ExxonMobil, Shell, BP, Chevron, Petrogal, Total, Repsol Sinopec, TechnipFMC, Vallourec, PetroRio, Aker Solutions, Frank’s International, Maha Energy Brazil, Shawcor, Solvay, Halliburton, Enauta and MOL.