Petrobras Chief: Cascade/Chinook to Come Online in June

Petrobras Chief Executive Jose Sergio Gabrielli reiterated Monday that oil production should commence at the Cascade/Chinook development in mid-2010, Dow Jones reported.

Speaking at an executive luncheon in Houston, Gabrielli said the Chinook FPSO unit should see first oil in June 2010; however, production could also come online in July.

Located in the Greater Chinook Area of the U.S. Gulf of Mexico, the Chinook and Cascade fields have a combined estimated production capacity of 80,000 barrels of oil per day.