Finance & Investing
News Services
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy


Devon Begins Production at Polvo Field Offshore Brazil

change text size

Polvo Field
(Click to Enlarge)
Devon Energy has commenced production from its Polvo oil field in Brazil. Polvo was discovered in 2004. It is located on block BM-C-8 in the Campos Basin offshore Rio de Janeiro in approximately 300 feet of water. Gross production is expected to peak by the end of 2008 at approximately 50,000 barrels of oil per day.

Production facilities include a fixed production and drilling platform connected to a floating production, storage and offloading vessel (FPSO). First sales are expected to begin in October when the initial shipment of oil will be offloaded from the FPSO and transported to market.

"Development of the Polvo discovery was a significant engineering project carried out efficiently within a rapid three-year discovery-to-production cycle time," said Stephen J. Hadden, senior vice president of exploration and production. "The project is expected to contribute about 26,000 barrels per day in 2008 to Devon's continuing production growth forecast. With Polvo and nine additional offshore leases, we have a solid future in Brazil with potential for additional discoveries."

Polvo has estimated resource potential in excess of 50 million barrels. Devon is the operator of the BM-C-8 development with a 60 percent interest. SK Corporation of Korea holds the remaining 40 percent interest.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Most Popular Articles
From the Career Center
Jobs that may interest you
Nitrogen Pumper Equipment Operator Driver
Expertise: Fracturing|Supply & Distribution|Truck Driver
Location: Freeport, TX
Sr. Mechanical Design Engineer
Expertise: Workover or Completion
Location: Houston, 
Production Engineer
Expertise: Production Engineering
Location: Alvin, TX
search for more jobs