Petrobras announced significant progress on Phase 8 of the Búzios oil field project, located in the ultra-deepwater region of the Santos Basin.
The FPSO P-79, built by Hanwha Ocean for Petrobras, successfully produced its first oil on May 1 and completed its first crude oil offloading operation on May 30, marking the facility’s official entry into commercial operation.
According to reports, the FPSO P-79 set sail from Hanwha Ocean’s shipyard in Geoje, South Korea, in November 2025, arrived in the Pre-Salt region of the Santos Basin in February 2026, and was subsequently towed to its operational position at the Búzios oil field. The P-79 is designed for a daily crude oil production capacity of approximately 180,000 barrels (about 25,000 metric tons) and a daily natural gas processing capacity of 7.2 million cubic meters.
With the commissioning of P-79, the daily crude oil production capacity of the Búzios field is expected to increase to approximately 1.33 million barrels. In terms of natural gas supply, the project will transport natural gas to the Brazilian mainland via a connection to the Rota 3 gas pipeline, which is expected to increase Brazil’s natural gas supply by up to 3 million cubic meters per day.
The P-79 is the eighth of 12 FPSOs planned for the Búzios oil field development. Previously, seven units—the P-74, P-75, P-76, P-77, Almirante Barroso, Almirante Tamandaré, and P-78—have already entered service. In addition, P-80, P-82, and P-83 are currently under construction, and the Búzios Phase 12 project has entered the bidding phase.
The Búzios oil field, discovered in 2010 and located 180 kilometers off the coast of Rio de Janeiro, is one of the world’s largest deepwater oil fields, with operating depths exceeding 2,000 meters. In October 2025, the field’s daily oil production surpassed the 1 million barrel mark, making it the highest-producing ultra-deepwater field under the management of Petrobras.
The Búzios oilfield is being developed by an international consortium led by Petrobras, with Petrobras serving as the operator. CNOOC and CNODC hold interests in the project as Chinese partners, while PPSA is responsible for managing the production-sharing agreement.