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Petrobras to Complete Cacimbas-Catu Pipeline in 2010
LONDON
Petroleumworld.com, May 9, 2008
Petroleo Brasileiro SA, Brazil's state-controlled oil company, will complete the Cacimbas-Catu gas pipeline in the first quarter of 2010, doubling the supply of the fuel to the country's northeast.The 954-kilometer (593 miles) pipeline will have a transportation capacity of 20 million cubic meters, the company said on its Agencia Petrobras Web site yesterday.
The Cacimbas-Catu link is the last stretch of the Gasene pipeline network, which involves total investment of 5 billion reais ($2.9 billion), Petrobras said.
The pipeline will help bring gas from new offshore fields in the southeast of Brazil to the poorer and fast-growing northeast region. It will allow the area to increase gas-fired electricity generation.
Petrobras is seeking to boost oil and natural-gas production by 79 percent to the equivalent of 4.2 million barrels of oil a day by 2015. Petrobras in January said there may be enough gas in its new Jupiter field to meet domestic demand.
Story by Joao Lima from Bloomberg
- jlima1@bloomberg.net.
Bloomberg 09 05 08Copyright© 2008 respective author or news agency. All rights reserved.
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