Brazilian state-controlled company Petrobras has launched a new programme aimed at slashing costs associated with offshore well construction activities in the pre-salt fairway.

Nicknamed PEP-70, the initiative is designed to reduce costs by as much as 30% through the optimisation of well engineering projects and the incorporation of new technologies that are under development.

According to Petrobras, the PEP-70 programme is mainly focused on forthcoming drilling and completion activities in the highly productive Buzios pre-salt field in the Santos basin.