Petrobras Says Reduced Offshore Extraction Cost
RIO DE JANEIRO, Aug 7 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA reduced its offshore subsalt field extraction cost to $8 a barrel from $9 a barrel, executives said in a conference call on Friday.
Shares of the company known as Petrobras were down 1.4 percent the day after it reported second-quarter net income had plunged 89 percent and a one-time charge for underperforming assets caught analysts off guard.
Petrobras plans to hook up 33 new wells in the second half of the year, down from 39 in the first half, executives said.
(Reporting by Jeb Blount; Editing by Meredith Mazzilli)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)