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Brazil Gives Up Reaching Oil Self-Sufficiency This Year

Brazilian Petroleum S.A., Petrobras, intends to turn Brazil into a net exporter of petroleum, that is, one that exports more than it imports. According to its financial director, Almir Barbassa, the company may obtain an annual surplus of US$ 2 billion.

Barbassa participated yesterday, November 7, in a presentation to reporters on platform P-50, which is still under construction. According to the director, the P-50, when it is ready, should assure the country self-sufficiency in petroleum production and enable the company to export the commodity.

The platform, which is in the Mauá-Jurong shipyard, in Niterói, in Rio de Janeiro state, is undergoing the final adjustments in its assembly.

"With the P-50 starting up operations, in the first half of next year, our domestic production will grow from its current level of 1.7 million barrels per day to 1.9 million barrels per day, which will outstrip domestic demand, which is presently on the order of 1.8 million barrels per day," the director states.

Next year as well, Petrobras expects to place in operation platform P-34, which will be installed in the Jubarte Field, in the Espí­rito Santo Basin. The forecast is that this platform will have a daily production of 60-70 thouand barrels of petroleum.

The state enterprise plans to build "another around 12 production units scheduled to go into operation by 2010," Barbassa affirms. "We hope to reach 2010 producing 2.3 million barrels of oil here in Brazil," he says.

A mere two months ago, in a speech to the nation on Independence Day, September 7, Brazilian president Luiz Inácio Lula da Silva had announced Brazil’s oil self-sufficiency for this year.

At the time he emphasized work on infrastructure his administration is carrying out and announced:

"Allow me, on Independence Day, to celebrate an important victory with you. This year Brazil will become self-sufficient in petroleum production. That means we will be much less vulnerable to international crises," said the President.

ABr

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