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


Petrobras Approves Projects at Mature Fields in Bahia

change text size

RIO DE JANEIRO - State-run oil company Petroleo Brasileiro, or Petrobras, said Friday its board has approved "three large investment projects" to recover oil and gas output at mature fields in the northeastern state of Bahia.

The projects involve expanding Petrobras' installations in the region, drilling 26 new wells and making 227 upgrades to existing wells. Petrobras said the efforts will be quick to generate cash.

The company plans to spend around 3.2 billion Brazilian reais ($1.503 billion) in investments and operational costs in Bahia between 2013 and 2017. Its goal is to maintain the state's oil and natural gas production stable at around 50,000 barrels and 8.3 million cubic meters per day, respectively.

Copyright (c) 2012 Dow Jones & Company, Inc.


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Completions Engineer
Expertise: Production Engineering|Workover or Completion
Location: North Dakota, ND
Application Specialist for Industrial Water and Mining Processing
Expertise: Chemical Engineering|Petroleum Engineering
Location: Freeport, TX
Product Line Manager - Drilling Systems
Expertise: Cementing|Engineering Manager|Sales & Marketing|Subsea Engineering
Location: Houston, 
search for more jobs