The Giant field of Roncador was by far the largest discovery made in Brazil in the 90´s. Its approved Development Plan relies on its separation in four modules, due to significant reserves involved and difference among oil characteristics found. The field is already producing with SS P-52 and FPSO P-54 since 2007, for modules IA and II respectively. Soon the field will also count with SS P-55, which will start operations for Module III in 2013 and FPSO P-62, which will have its first oil for Module IV at the first quarter of 2014, and represents the focus of this work.The Roncador Module IV is located at the center of the block, placed on the northeast of Campos Basin, 125 KM far away from the Brazilian coast. Currently, its reserves are over 500 MM boe, saturated with 18 º API heavy oil. The wells are being constructed in ultra deep waters, with variations depths between 1650 and 1750 meters of water column. This paper presents an overview of the project, including strategic drivers adopted on its design, which sought to mitigate risks and reduce deployment costs, as well as its scope and the journey since the selection of alternatives through the current status, with the FPSO P-62 under final phase of construction and assembling at the Estaleiro Atlântico Sul Shipyard in Recife and near the beginning of its operation in the Roncador field. The operation in advance of four wells (three producers and an injector one) using the already installed infrastructure of the field, will also be presented in this work.

This paper presents a series of improvements Petrobras has been undertaking in its Project Management (PM) practices and the shaping of a multi-level Project Management Office (PMO) structure through the case of Buzios implementation program. Buzios is Petrobras’ largest ultra-deepwater oil field, which already contains 4 large-scale operational floating production units (all of them among the company's top producing facilities) and at least seven additional modules to be implemented by 2027, each of which is a megaproject per se. The re-shaping of the PMO strategy in Petrobras observed a layered approach with improvements in strategic (corporate), tactical (portfolio) and operational (program/projects) level. PMOs were responsible for strengthening project planning and control practices, improving training of project management teams and aligning the portfolio to the corporate strategy. On Buzios production development program operational level, the PMO was a key driver to increase project and asset value. After a comprehensive assessment of stakeholder interests, the main practices prioritized for the structuring of Buzios PMO were: (i) exploitation of synergies between projects; (ii) standardization and alignment of project management practices; (iii) increase of information availability; (iv) improvement in communication flow and governance and (iv) dissemination of lessons learned among the teams. To attain these goals, the initiative itself was organized as a project and deliverables were classified in a Work Breakdown Structure (WBS) based on four main streams of action: Governance and Communication - establishment of a multi-level project governance, including the senior executive company level; Quality and Control - establishment of centralized and integrated planning and control processes and centralization of activities at the PMO level; Digitalization - automation of processes, and massive provision of self-service project/portfolio information; and Critical Resource management - establishment of a formal and structured process to support resource allocation. Some of the main results obtained are listed below, in line with the previously established pillars: Governance and Communication - timely decision-making was facilitated and integration of teams was increased; Quality and Control - improvement in cost and schedule predictability; Digitalization - cost/labor reduction and increased efficiency; Critical Resource management - more effective and organized sharing of resources among projects. Literature already recognizes the use of rigorous methodologies and PM practices as a driver for improvement in project outcome. The application of such practices in a program comprised by a handful of megaprojects (as provided by the world class asset of Buzios) allowed the validation of several theoretical constructs and at the same time generated value for the company's portfolio. Other companies can benefit from the lessons learned herein and incorporate them into their management systems.