Volume 3, issue #23 - 28-09-1998

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Petrobras to develop Roncador oil field

Aug. 5, 1998 Petrobras will start researching and developing the Roncador oil field located in Campos, State of Rio de Janeiro, Brazil next September. The move will demand investments of about $ 2.2 bn on a project finance basis.
The Roncador oil reserves are estimated at 2.7 bn barrels. It will initially produce 10,000 bpd during 1998, but Petrobras will set up a new oil rig in 1999 with a production capacity of 180,000 bpd. Petrobras ordered the construction of an oil rig in Canada (P-36) that will start up in Roncador next year.
Besides, the company also ordered the construction of a ship in Canada (P-47) to be used in Roncador.