Petrobras creates association with Portiguar II and Uno Paso

Jul 04, 2000 02:00 AM

Petrobras has created an association with Portiguar II and Uno Paso subsidiaries of the US companies Unocal and El Paso Energy. The plan is to explore oil in the project Projeto Integrado Pescada Arabaiana, Rio Grande do Norte (Brazil). The agreement predicts the installation of 6 oil platforms in 10 fields. The project started in May 1999 requires $ 170 mm investments, and is expected to produce 6,500 bpd of oil in 2001, and 1.6 mm cmpd of natural gas until 2003 year.

Source: Xinhua via Newspage
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