Saturday, July 31, 2010

Petrobras aims to start Tupi pilot production three months ahead of schedule - Brazil

Brazilian state-run energy major Petrobras (NYSE: PBR) is working to launch pilot production at the pre-salt Tupi oil field three months ahead of schedule in order to book revenues earlier, a spokesperson for the company told BNamericas.
Tupi field production will start at 100,000b/d, the spokesperson added.
An extended well test is currently being carried out on the well. Pilot production had been originally expected to begin in December.
Commerciality for the Tupi field is also expected to be declared by the end of 2010.
Petrobras has a 65% stake in the BM-S-11 block where Tupi is located. British major BG Group holds 25% and Portugal's Galp 10%.
According to Petrobras, Tupi reserves could reach 5B-8Bboe. The field is located in Brazil's Santos basin.
By João Carvalho

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