Petrobras Commences Production from Jubarte Field

Petrobras has begun producing 16,500 barrels of oil per day from the deepwater Jubarte Field in Espirito Santos area in block BC-60. The field was first discovered in January, 2001 and the latest well, 3-ESS-110H, was drilled in August of this year by the Noble Paul Wolff. The field's current output will gradually be increased to 25,000 barrels per day. Three wells from the five-well drilling program have already been drilled and, to date, Petrobras has spent approximately $100 million on development of this field.

The FPSO Seillean is extracting the oil from the well, at an underwater depth of 1,300 meters, and is storing it until tankers transfer it to port terminals. The field is estimated to contain 600 million barrels of oil.