Petrobras Exec: Output Start At Nigeria Agbami Field In June

RIO DE JANEIRO, April 15, 2008 (Dow Jones Newswires)

Brazil's state-run oil company Petroleo Brasileiro SA, or Petrobras, and Chevron Corp. could start production at Nigeria's Agbami light-oil field as early as June, Petrobras International Director Jorge Zelada said Tuesday.

Zelada was speaking at a breakfast with journalists at Petrobras headquarters in Rio de Janeiro.

Ali Moshiri, Chevron's president for Latin America and Africa Exploration and Production, had said in late February he expected output at Agbami to commence in the third quarter.

Chevron is the lead operator at Agbami, while Petrobras has a 20% stake in it.

Petrobras expects its share of output in the field to average 30,000 barrels a day this year, Zelada said. Agbami's full output capacity is 250,000 barrels a day, he added.

Zelada also said he expects output at Nigeria's Akpo field to start by the end of the year. Petrobras has a 13% stake in that field. France's Total SA is the lead operator.

Nigeria, a top oil producer, has seen output affected by militant attacks.

RIO DE JANEIRO, April 15, 2008 (Dow Jones Newswires)