Petrobras CEO: 2.8Mb/d by 2015, not including Tupi - Brazil
Petrobras CEO: 2.8Mb/d by 2015, not including Tupi - Brazil
Sunday, July 6, 2008
(BNamericas.com) - Brazil's federal energy company Petrobras (NYSE: PBR) will increase domestic oil production to 2.8Mb/d by 2015, not including output from the mega Tupi discovery, CEO José Sérgio Gabrielli said.
Petrobras aims to reach domestic oil production of 1.95Mb/d this year, although some analysts are saying the target could be overly aggressive.
The company is ramping up production at some platforms and starting new output at others.
The following platforms are not yet producing at capacity: FPSO Rio de Janeiro; Piranema; FPSO Cidade Vitória; P-52; and P-54, according to a Credit Suisse report.
"Adding up the spare production capacity and some additional wells at Marlim field, production could have a boost of 250,000b/d by year-end," according to the report, which says a "realistic" target for 2008 is 1.89Mb/d.
Meanwhile, the Santos basin could increase production even further in coming years.
"We don't know how many barrels we have, but we know that we have a lot of oil to be developed in this area, and not only in the neighborhood area of Tupi," Gabrielli said at a press conference in Madrid.
NO PLANS FOR IRAQ
Petrobras has no plans to operate in Iraq, Gabrielli said. The country is opening up its oilfields to international bidders.
"Petrobras discovered, more than 30 years ago, a large field in Iraq. It was the third biggest oilfield in the world. And the field never produced one barrel of oil. So we're not interested in going back to Iraq," he said....
Government could settle gas supply issue for steel project in December - Regional
Sunday, July 6, 2008
(BNamericas.com) - Bolivia's government could decide in December which gas deposit will be used to supply the El Mutún steel project in Santa Cruz department, a spokesperson from Bolivia's mining and metallurgy ministry... more
EDITORIAL COMMENT: Government should carefully consider cost of royalty increases - Colombia
Sunday, July 6, 2008
(BNamericas.com) - With the price of oil setting new record levels on an almost weekly basis, governments, service providers and oil companies themselves are now jockeying around to see who will reap the gains. Major pr... more
Petrobras rules out natural gas shortage - Brazil
Sunday, July 6, 2008
(BNamericas.com) - Brazil's federal energy company Petrobras (NYSE: PBR) is ruling out talk of a natural gas shortage in the country, Petrobras gas and energy director Maria das Graças Foster said.
"There's no short... more
March Resources: Share offering closes July 17 - Chile
Sunday, July 6, 2008
(BNamericas.com) - Calgary-based March Resources (TSX-V: MCF), which is exploring for natural gas in northern Chile, will close its Cdn$7mn-10mn (US$7mn-10mn) share offering on or about July 17, the company said in a st... more
Córdoba to start exploring 8,735km2 area near BA province - Argentina
Sunday, July 6, 2008
(BNamericas.com) - Argentina's Córdoba province will begin exploring an 8,735km2 area for oil and gas near the province's border with Buenos Aires province, the provincial press office said in a statement.
"The geog... more
Aker Solutions to supply Queiroz Galvão with riser system - Brazil
Sunday, July 6, 2008
(BNamericas.com) - Norwegian oil services company Aker Solutions has agreed to supply Brazilian drilling company Queiroz Galvão Óleo e Gás with a fourth deepwater marine drilling riser system for US$55mn, Aker said in a... more
Carrasco-Cochabamba gas pipeline construction to begin in August - Bolivia
Sunday, July 6, 2008
(BNamericas.com) - Bolivian gas and liquids transporter Transredes will begin construction next month of the Carrasco-Cochabamba (GCC) gas pipeline, state hydrocarbons company YPFB said in a report.
The 255km, 16-in... more
PDVSA's Dación payments to Eni reach US$230mn - Venezuela
Sunday, July 6, 2008
(BNamericas.com) - Venezuela's state oil company PDVSA as of March 31 had paid Italian major Eni US$230mn for its nationalized interest in the Dación field, PDVSA said in its first quarter financial report.
The two ... more
Petroecuador, Petrovietnam ink hydrocarbons deal - Ecuador
Sunday, July 6, 2008
(BNamericas.com) - Ecuador's state oil company Petroecuador and its Vietnamese counterpart Petrovietnam have signed a strategic alliance deal to jointly advance hydrocarbons development.
The deal covers E&P, transpo... more
IN BRIEF June hydrocarbons use down 5% - Costa Rica
Sunday, July 6, 2008
(BNamericas.com) - Hydrocarbons consumption in Costa Rica last month fell 5% to 1.4Mb compared to June 2007, state refiner Recope said in a statement.
Recope attributed the drop to high international fuel prices.