Brazil's state-run oil company said the project, which will link pre-salt oil and gas fields to the Comperj refinery complex in Rio de Janeiro, should be concluded by 2020.
The government looks to take advantage of gas that is currently released into the atmosphere or flared.
The Canadian energy and mining company has updated its guidance for oil and electricity production in the island.
Previously slated for this month, the pilot production program at the field in the Santos basin has been pushed back to 1Q18.
The initial plan is for a pilot project in the Argentine province to bring up to seven wells into production, the construction of production facilities and development of export infrastructure.
The energy minister says the volume of investment in the country's oil, gas and electric power sectors will surpass US$100bn by the end of the current administration.
The government is readying the creation of seven employment and economic development zones (ZEDEs) in different areas of the country.
The Brazilian state oil company appears best positioned to increase investment and output among the region's NOCs, while Pemex is most likely to receive government support in case of need, according to a Moody's report.
The new schedule is likely to include areas offered under Brazil's concession contract model and its pre-salt production sharing regime.