Petrobras to develop Roncador oil field

Sep 28, 1998 02:00 AM

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.

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