Brazil's Petrobras to Launch Huge P-53 Oil Platform Thursday

RIO DE JANEIRO (Dow Jones Newswires), Sept. 17, 2008

Brazilian state oil company Petroleo Brasileiro SA (PBR), or Petrobras, will launch its huge new P-53 offshore oil platform Thursday, the company said.

Brazilian President Luiz Inacio Lula da Silva and Petrobras Chief Executive Officer Jose Sergio Gabrielli will launch the platform, Petrobras said.

The platform will be installed at the Marlim Leste Field in the Campos Basin, off the coast of Rio de Janeiro state. It will operate in 1,080 meters of water. The platform has a production capacity of 180,000 barrels of oil and 6 million cubic meters of natural gas a day.

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