Large investments for development of Urucu reserves

Jul 14, 1997 02:00 AM

June 23, 1997 The Brazilian Federal government will soon sign an agreement with Eletronorte, Petrobras, BNDES and the Ministry of Mines and Power in order to explore and distribute natural gas from the Urucu reserves, Amazonas state. The product will replace the fuel and diesel oil used by local thermal plants. The project will demand investments of R$ 1.635 bn. Urucu's natural gas reserves are estimated at 55 bn cm and the field's production will be lifted from the current 1 mm cmpd to 4 mm cmpd. When the project is wholly implemented, Petrobras will raise the LPG and crude petroleum exploitation. Its crude petroleum production will be lifted from the present 26,000 bpd to 45, 000 bpd until the end of 1998, while the LPG production will be lifted from 120 to 900 tons per day. In order to process Urucu's production, Petrobras will invest $ 60 mm to raise the Reman refinery's processing capacity from 25,000 to 46,000 bpd until the beginning of 1999. A 2790 km pipeline will be build connecting Urucu and Coari, with investments of $ 1 bn. Petrobras is already erecting a crude oil & gas pipeline up to Coari with investments of $ 470 mm.

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