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

Ship Repair & Conversion

Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown

Shipbreaking Practices in 2015 Reveal Appalling Record -Report

Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015,

Dumpers 2015 - Examples of Particularly Bad Practices

The worst dumper prize goes to IDAN OFER, son of shipping magnate Sammy Ofer. Idan Ofer owns QUANTUM PACIFIC GROUP and has a controlling stake in Israel’s largest publicly traded company,

Offshore

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

Corima Acquires Damen ASD 2810 Tug

On 20 January 2016, Corima, part of the Italy-based Gesmar Group, held an official handover ceremony for a Damen ASD 2810 tug. The festivities were attended by

HHI to Localise Main Equipment for Offshore Plants

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI),

 
 
Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0711 sec (14 req/sec)