LatAmOil: Petrobras considers offering CCS services to third parties

Brazil’s national oil company (NOC) is looking into the possibility of broadening the scope of its carbon capture and storage (CCS) programme and may begin offering services to third parties, a Petrobras representative has said.

Currently, Petrobras’ CCS programmes are inwardly focused, designed primarily to reduce the carbon intensity of the company’s own upstream operations, especially at deepwater and ultra-deepwater pre-salt fields in Brazil’s offshore zone. But Rafael Chaves Santos, the NOC’s executive director of institutional relations and sustainability, told Upstream Online that Petrobras was mulling proposals for providing storage solutions to other industrial producers of carbon dioxide.

Speaking on the sidelines of the Gastech 2022 conference in Milan, he described third-party carbon dioxide storage as a possible avenue of diversification for Petrobras. Nevertheless, he stressed that the NOC’s board of directors and executives would decide whether the business should develop in this direction. Additionally, he declared that Petrobras would not be exiting the hydrocarbon business in the foreseeable future.