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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Cathelco Supply BWT System for Cable Laying Vessel

Cathelco have supplied a ballast water treatment (BWT) system for the C.C. Pacifique, a steel barge which is being converted into a cable laying vessel for Coastal Carriers BV of the Netherlands.

Turkey to Modernize Pakistan’s Subs

The Turkish defense firm Defense Technologies and Engineering (STM) won the tender to modernize Pakistan's submarines against its French competitor DCNS, reports Daily Sabah.

Turkey Launches F-513 TCG Burgazada

Turkish Navy’s third Milgem class corvette, the F-513 TCG Burgazada, created as part of the MILGEM project, was launched with a ceremony attended by Turkish President

Offshore

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Subsea 7 Announces PLSV Swap off Brazil

Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil.   The agreement will see the Subsea-7-owned

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.0713 sec (14 req/sec)