Petrobras to Start Piranema Output This Year

Brazil's state-owned energy company, Petrobras, plans to start production at the Piranema light crude field off the coast of Sergipe state by year's end, the company said in statement.

Construction of the 30,000-barrel-a-day SSP Piranema floating, production, storage, and offloading vessel (FPSO) is nearing completion in the Netherlands, where the topside is being linked to the Chinese-built hull.

Full capacity will be reached by mid-2007, when the FPSO will be linked to six wells.

The SSP Piranema is scheduled to arrive in Brazil in October. It is a round-hull project developed by Norwegian company Sevan Production for which Petrobras signed an 11-year lease contract in early 2004.

The Piranema field is 37 kilometers off the Sergipe coast in the SEAL-100 block in the Sergipe-Alagoas sedimentary basin. The field has water depths of 1,000-1,600 meters and contains 44-degree light crude.

The field was declared commercially feasible in late-August 2004.

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