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

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

Brazil Is Ready to Grow 15 Years Uninterrupted, Says President Lula

Brazil’s growth will no longer be like a "hen’s flight," that is, discontinuous. This ...

Consumer Confidence Down in Brazil for Second Month

The 16th Consumer Expectations Research, released April 5, in Rio de Janeiro, by Fundação ...

Either Brazil Uses Its Leadership in Argentina/Uruguay Dispute or It May Lose It

Brazil could be forced to abandon its comfortable neutrality and help finding a negotiated ...

Crisis? What Crisis, Asks Brazil’s Auto Industry

The financial crisis hitting the world has lit a warning light for the Brazilian ...

Brazil Wants South American Summit to Create Anti-Drug Council

Unasur, the Union of South American Nations, will debate the creation of four ministerial ...

New US Study Shows Brazil as Agressive Foreign Investor

A new survey released this Monday, December 3, by the Columbia Program on International Investment ...

Brazils Petrobras in China

Brazil: Self-Sufficient in Oil, Insufficient in Quality of Life

At the same time as they are announcing Brazil’s achievement of oil self-sufficiency, the ...

Brazil’s Ethanol Storage Complex Can Manage 15 Ships a Month

The city of Paranaguá in the southeastern Brazilian state of Paraná has just inaugurated ...

Short story – Stanislaw Ponte Preta

Two friends and a bore   Os dois estavam tomando um cafezinho no boteco ...

The World May Be in Chaos But Brazil Is in Great Shape, Says President

The president of Brazil, Dilma Rousseff, said that, for the second time in a ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`