Brazil Plans to Maintain Oil Self-Sufficiency in Decades to Come

When he turned the faucets to start the oil flowing on Platform P-50, last Friday, April 21, Brazilian President Luiz Inácio Lula da Silva thrust Brazil among an elite group of countries that are self-sufficient in petroleum production.

The P-50, which is the largest production unit operating in Brazil, will increase daily domestic petroleum production by 180,000 barrels – a barrel corresponds to 159.2 liters.

The rig, which is located in the Albacora Leste (East Albacore) field, in the Campos Basin, off the north coast of Rio de Janeiro State, will account for 11% of the 1.92 million barrels produced in Brazil each day.

The P-50 is an FPSO (floating production, storage, and offshore loading) vessel that processes petroleum and natural gas. Repsol, a Spanish company, has a 10% stake in the venture.

Petrobras describes the platform as 337 meters long and 55 meters high (equivalent to an 18-story building). Its draft extends down 21 meters.

The platform is one of a series of projects that the Brazilian oil giant intends to put in place by the end of 2010 to ensure the continuation of the country’s self-sufficiency in this area.

The first steps in the direction of self-sufficiency were taken over the last twelve months with the start-up of operations on platforms P-43 and P-48, in the Barracuda-Caratinga complex, also in the Campos Basin.

Together with the other projects, Petrobras is not only guaranteeing this self-sufficiency but establishing conditions for the country to produce approximately 2.3 million barrels daily in 2010, when consumption is expected to run around 2 million barrels.

Agência Brasil

Tags:

Ads

You May Also Like

A Recipe to Lower the Risk Brazil

Brazil’s President Luiz Inácio Lula da Silva once again emphasized the importance of Brazil’s ...

Brazilian Shoe Exports to Middle East Grows Above Average

Brazilian shoe industries had revenues of US$ 15.5 million with exports to the Arab ...

Turning Red

Led by President Luiz Inácio Lula da Silva, Communists are taking over Brazil. The ...

Have the Brazilian Police Become More Humane?

Brazil has evolved when it comes to incorporating human rights norms into police training ...

Paraguay Warns Against Provocation While Brazil Plays War Games at the Border

War exercises by the Brazilian military along the border of Brazil with Paraguay are ...

Silencing Women with a Shot in Brazil

Virtually nothing is known about females who are murdered at the hand of Brazil’s ...

Japanese Banks Finance Brazil’s Petrobras Expansion

Petrobras, the Brazilian oil giant, and a consortium of international banks signed yesterday, May ...

US Pans Brazil for Recognizing Palestine as a State

The United States criticized Brazil, Argentina and several other Latin American countries for the ...

US farm

Brazil, US and Co. Intransigence Delays Doha Accord to 2008 or Later

According to a UN expert, the Doha Rounds, the global trade agreement that is ...

Brazil Is Serious About Fighting Racism, Says OAS

The president of the Inter-American Human Rights Commission of the Organization of American States ...