Brazilian state-controlled company Petrobras is banking on fresh technologies to improve the recovery factor at its giant offshore fields in an attempt to make an additional 20 billion barrels of oil equivalent commercially viable by 2030.

In nearly seven decades since it was founded in October 1953, Petrobras has produced 23 billion boe from its onshore and offshore assets.

The new RES20 programme was designed to incorporate new reserves, with the focus on the company’s world-class producing fields in the pre-salt province such as Buzios, Tupi and Mero.