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PETROBRAS: Tupi working by 2010,
with 100.000 barrels per day


Petrobras offshore oilrig

CARACAS
Petroleumworld.com 11 27 07

Petrobras CEO Jose Sergio Gabrielli told a local news paper that the plans are to have giant Tupi oilfield producing 100.000 barrels per day by 2010, with an investment from 2 to 3 billion US dollars. The new oil deposit has recoverable reserves in the range of 5 to 8 billion barrels of crude and natural gas.

In an interview with O Estado de Sao Paulo, CEO Gabrielli said that U$D 2 to 3 billion are needed to develop Tupi field, the initial investment will be destined for deep water prospecting rig, floating systems and other equipment necessary to advance the exploration.

“We still don’t have the definitive estimates, but they shouldn't be too different from our current costs. Maybe a little bit higher which means we will have investments in the range of 2 to 3 billion US dollars for the pilot project”, he said.

Petrobras should declare Tupi's commercial viability next year or 2009, it already has teams of experts working on the field development, said Guilherme Estrella Petrobras exploration and production director.

"Before the end of the year, they have to come up with concrete concept proposals on how to use the gas that comes jointly with oil, because this will define how we are going to develop the area," Estrella said.

Petrobras partners in Tupi include Britain's BG Group, Spain's Respol and Galp of Portugal.

 

Story from Petroleumworld 26 11 07

Copyright© 2007 Petroleumworld. All rights reserved.

 

 

 

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