Brazil’s Petrobras Uses US$ 50 Billion in Plan Well Beyond Self Sufficiency in Oil

Brazzil Magazine covers

When it starts up operations in January, 2006, the P-50 platform vessel will be Brazilian Petrobras’ largest production unit, churning out 180 thousand barrels of oil daily in Brazil.

Besides producing petroleum, the P-50, which is a floating production, storage, and offloading unit (FPSO), built at the cost of US$ 634 million (1.3 billion reais), will also be capable of compressing 6 million cubic meters of natural gas and of storing up to 1.6 million barrels of oil.

However, in order for its plan of sustained self-sufficiency in petroleum production to become a reality, state-owned Petrobras is also counting on three other production units to come on line next year.

They are the P-54, with a 60 thousand barrel daily output, in the Jubarte Field, in the Campos Basin (off the Rio de Janeiro coast); the SSP-300, with a 20 thousand barrel daily output, in the Piranema Field, in the state of Sergipe in the Brazilian Northeast; and the Golfinho Phase One unit, with a 100 thousand barrel daily output, in the Golfinho Field, in the Espí­rito Santo Basin.

Petrobras’ has its sights set even higher, going well beyond the goal of self-sufficiency: The company hopes to attain a daily production average of 2.3 million barrels by 2010.

To achieve this target, the company has 36 major projects in the pipeline for execution between now and the end of the decade.

These projects involve investments surpassing US$ 50 billion and will permit the start-up of platforms P-51, P-52, P-53, P-54, and P-55, each with an average daily production of 180 thousand barrels of petroleum.

Agência Brasil

Tags:

You May Also Like

Brazzil Magazine covers

Open Letter to President Lula

You will not be able to accuse or avoid responsibility. Who are you going ...

Brazzil Magazine covers

Brazilian Government Rules Out Blackouts in Foreseeable Future

The president of Eletrobrás – Brazilian Electrical Centrals, S.A. – AloÀ­sio Vasconcelos, ruled out ...

Brazzil Magazine covers

Farmland in South of Brazil Now Costs More than in Southeast

Prices of farmland have risen sharply of late in Brazil, driven up by rising ...

Brazzil Magazine covers

Brazil Still Mistreating Its Delinquent Minors, Says OAS

A group of human rights organizations has released a report on the situation in ...

Brazzil Magazine covers

Brazil Exports US$ 14 Bi and Imports US$ 8 Bi in July. Two Records.

Brazilian exports in the month of July were the greatest in history, registering the ...

Brazzil Magazine covers

Ireland’s JetBird Increases to 53 Number of Brazilian Embraer Jets Ordered

Dublin-based air taxi operator JetBird confirmed three options for the Phenom 100 jet manufactured ...