Petrobras: Deep Offshore Wells a New Frontier

Thursday, July 13, 2006
Bloomberg reported that Petroleo Brasileiro SA, Brazil's state- controlled oil company, opened a new exploration frontier with the discovery of oil beneath more than two kilometers of ocean and two kilometers of rock a company official said. While Petrobras doesn't know the extent or size of the oil deposits found about 250 kilometers off the shore of Rio de Janeiro, it is the first time oil has been found under such conditions, offering the chance that Petrobras may increase the production of light crude oil faster than expected, Gabrielli said in an interview.

The discovery may be as large as the Campos Basin, Brazil's largest offshore district, said Haroldo Lima, head of Brazil's national petroleum agency, or ANP, in an interview. Brazil produces 1.5 million barrels a day in Campos, or more than three quarters of its 1.9 million barrels a day Brazilian production and more than two thirds of its 2.3 million barrel total daily worldwide output, according to Petrobras's Web site.

Petrobras's board on June 30 approved a 66 percent expansion of investments to $87.1 billion for the 2007-2011 period. Petrobras, which is spending about $4 billion a year just to maintain current production levels, expects the expansion will help it find new reserves to double production to about 4.5 million barrels a day in 2015.

The discovery, made in partnership with BG Group Plc and Petrogal SA shows signs of new oil layer beneath much of Brazil's existing oil reserves of 13 billion barrels to 14 billion barrels. Source: Bloomberg

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

DNV GL: Beyond Condition Monitoring in the Maritime Industry

Moving from a regime of scheduled rule-based maintenance to a data-driven risk-based regime can lead to more accurate and timely maintenance resulting in increased safety,

I-Tech’s Selektope Approved in China

I-Tech informed that Selektope, a marine biocide used to improve ship hull performance and reduce maintenance, has been approved for use in China. Selektope

Bollinger Shipyard Stalwart VP Dave Marmillion to Retire

Bollinger Shipyards, Inc. headquartered in Lockport, La., inform of the upcoming retirement of its Vice President Repair, Eastern Division, Dave Marmillion, after 46 years in the shipyard industry.

Offshore

Vard Orders Rolls-Royce Equipment for Rem OCV/AH

Rolls-Royce has won a £19m contract with the Norwegian shipbuilding group Vard to deliver deck machinery, propulsion and engines to a new offshore construction

First Havyard WE Design Delivered to Fafnir Offshore

Havyard Ship Technology's build 120 'Polarsyssel', a Havyard 832 L WE design, was delivered to Fafnir Offshore yesterday. It will go straight on assignment for

Brazil's Óleo e Gas, OSX Renegotiate FPSO Contract

Óleo e Gas Participações SA, the Brazilian oil producer that is under bankruptcy protection, and former sister company OSX Brasil SA completed on Friday a plan

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1708 sec (6 req/sec)