At full capacity the field would produce 60 barrels of oil a day. Foz de Vaza-Barris started producing in 1989 and stopped in 1997. So far RAL has invested some 2.5mn reais (US$1.2mn) in the project.
RAL won a license to revamp the field at ANP's October 2005 auction. Of the 16 mature fields offered last year, Foz de Vaza-Barris will be the first to start production, ANP said.
Another two wells auctioned in 2005 are due to start production soon in the northeastern state of Bahia. Brazilian oil company Panergy is due to start production by year-end at one well and engineering firm Egesa first quarter 2007, newspaper Correio da Bahia reported.
ANP has been offering mature fields as part of a policy to give engineering companies a stake in the local oil industry.
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