Petrobras Confirms Will Bid in Venezuela Drilling Tender

RIO DE JANEIRO (Dow Jones Newswires), Jul. 13, 2009

Brazilian state-run energy giant Petrobras will take part in the tender to drill for oil in the Carabobo area of Venezuela, the Estado News agency reported Friday.

Jorge Zelada, Petrobras international director, said Petrobras had already acquired the geological data for the area and is waiting for the tender process to begin.

Zelada also said Petrobras production outside of Brazil should jump from 244,000 barrels per day this year to 341,000 barrels a day in 2010.

A factor in the increased production was the company's Nigerian operations, he said.

Zelada said the Nigerian fields of Akpo and Agbami would reach their peak output at the end of this year.

In addition, Zelada said Petrobras could use its subsalt offshore drilling experience to explore that layer in Africa, but studies would be needed first.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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