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 CEO Sees 100,000 bpd from Sergipe Area by 2018

change text size


RIO DE JANEIRO, Sept 27 (Reuters) - Brazil's state-run oil company Petrobras will produce 100,000 barrels a day from its offshore Sergipe prospects by 2018, Chief Executive Maria das Graças Foster said on Friday about one of the company's most promising new discoveries.

The executive told reporters at a news conference that the prospects from the northeastern state of Sergipe are "very good" but gave no estimate of the discovery's size.

Early drilling results show that the area controlled by Petroleo Brasileira SA and Indian partners Bharat Petroleum Corp (BPCL) and Videocon Industries Ltd likely holds more than a billion barrels of oil, government and industry officials told Reuters recently.

If confirmed, the new find could make the region the country's biggest new oil frontier since the government unveiled the massive subsalt discoveries off the coast of Rio de Janeiro and Sao Paulo states in 2007.

Graças Foster said the company has begun talks with Chinese officials over possible partnerships in constructing new refineries in the region, once oil production picks up there with the development of the offshore wells.

Copyright 2015 Thomson Reuters. Click for Restrictions.


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
Valve Tech
Expertise: Production Operator
Location: Lore City, TX, USA 43755, TX
Completions Engineer
Expertise: Production Engineering|Workover or Completion
Location: North Dakota, ND
Production Technician I
Expertise: Production Technologist
Location: Odessa, TX
search for more jobs