Petrobras Turns on Taps at Jubarte Platform

LONDON (Dow Jones Newswires), Dec. 21, 2010

A Petrobras' platform with a 180,000 barrels-a-day capacity has started producing in Brazil's offshore, the facility's oil services company said Tuesday.

The development will help the Brazilian state oil giant, also known as Petrobras, to realize its plans to produce 500,000 barrels a day from the oil-rich offshore of Espirito Santo state by 2015, up from about 10,000 barrels a day in 2000.

In a statement, Dutch contractor SBM Offshore said that the floating production, storage and offloading vessel, or FPSO, P-57 started first oil production on Dec. 17 on the Jubarte field in the Campos Basin.

SBM said the delivery of the FPSO had been reached two months ahead of schedule. But a Petrobras manager said in October that the vessel was set to start producing in November.

The platform, located about 80 kilometers from the coast of Espirito Santo, will produce about 30,000 barrels a day from two wells at first. But the facility, which has a production capacity for 180,000 barrels of oil a day, will reach its peak output in 2012.

Copyright (c) 2010 Dow Jones & Company, Inc.

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