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Pre salt Libra field ready to produce, reserves of 3.3 billion barrels -Petrobras


By Reuters Staff

Petroleumworld 11 30 2017

State-run oil company Petroleo Brasileiro SA said on Thursday the northeast section of the vast Libra pre-salt oil field was ready to produce commercially and had proven reserves of 3.3 billion barrels.

In a report to Brazil's oil industry regulator ANP, Petrobras proposed making the section a separate field and naming it Mero. The first oil was produced this week in an extended well test and Petrobras and its partners plan to start full production in July.

Libra is considered Brazil's biggest oil reserve and was the first block of the pre-salt region to be auctioned off in 2013.

Petrobras owns 40 percent of the project, with Anglo-Dutch Shell Plc and France's Total each owning 20 percent and Chinese state oil companies CNOOC Ltd and China National Petroleum Corp each owning 10 percent.

Reporting by Marta Nogueira; Writing by Anthony Boadle; Editing by Peter Cooney from Reuters .

reuters.com 11 30 2017

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