Petrobras Set to Start Up Golfinho FPSO

Brazil's federal energy company Petrobras (NYSE: PBR) will symbolically start up operations of the Capixaba floating production, storage and offloading (FPSO) vessel on May 8, Petrobras said in a statement.

The 100,000 barrel-a-day (b/d) FPSO will produce oil and natural gas from the Golfinho field in the Espirito Santo basin.

Capixaba has capacity to produce 3.5 million cubic meters a day of gas.

Petrobras will also inaugurate the onshore gas-processing plant the FPSO will be linked to, the statement said.

Golfinho, at water depths of 1,340 meters, has estimated reserves of 450 million barrels of 28-40 degrees API crude. It was declared commercially feasible in January 2004.

Capixaba will join the Seillean FPSO, currently producing 21,000b/d at the field.

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