Oil & Gas

21 Feb 2024

Petrobras to Invest $1.5 Billion in Hisep Decarbonization Tech

21 Feb 2024  by reuters   

Worker repair a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/Ueslei Marcelino Purchase Licensing Rights
Brazilian state-run oil company Petrobras (PETR4.SA), opens new tab and partners will invest around $1.5 billion to implement a decarbonization technology in one of their oilfields, the firm's Chief Executive Jean Paul Prates said on Tuesday.

Petrobras will set up a pilot project for the high pressure oil and gas separation technology know as HISEP by the end of 2028 in the Mero oilfield at the pre-salt area of the Santos Basin.

The HISEP reduces carbon emissions by reinjecting carbon dioxide into the reservoir, according to the firm.

The Mero field is operated by Petrobras in partnership with Shell (SHEL.L), opens new tab, France's TotalEnergies (TTEF.PA), opens new tab, China's CNPC and CNOOC (0883.HK), opens new tab, and Pre-Sal Petroleo SA-PPSA.

If it proves successful, the technology could be applied in other oilfields, bringing down the firm's carbon emissions.

More News