This paper uses a case study approach to present the challenges to develop a large and thick oil carbonate reservoir that is full of opportunities and uncertainties. The Libra block, located in Santos Basin ultra-deep water, in Brazil, has been developed under a Production Sharing Contract that was awarded to a Consortium where PETROBRAS is the operator in partnership with SHELL, TOTAL, CNOOC Limited and CNPC. This document will briefly present the de-risking plan, and detail the EWT Program implementation and its impact on the Mero area development, which consists of up to 4 (four) mega projects and altogether represents over 20 billion dollars in CAPEX investment. In addition, the results will show how the achievements achieved by the EWT project provided an extensive technological legacy to the offshore oil & gas industry.

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