Petrobras
to invest $18b in Santos Basin
By
Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 01 12 06
Brazil's
oil company Petrobras, plan to invest $18 billion in exploration
and production for southeast coast oil fields of the Santos basin,
off the coast of Rio de Janeiro, Sao Paulo, Parana and Santa Catarina
states, over a period of 10 years, the company said in a press
release Wednesday.
The
investment will contribute significantly to reducing Brazil's
dependency on imported gas," the statement said.
Petrobras
expects to boost domestic gas supply to Brazil's industrial southeast
region by around 12 million cubic meters per day from 2008 and
by about 30 million cubic meters from 2010.
At
present Brazil produces around 40 million cubic meters of gas
per day and imports 30 million cubic meters of gas per day from
Bolivia, which recently elected its first indigenous president
that has promise to execute a new law increasing royalties on
hydrocarbons production.
The
main focuses of the investment for production in 352 square kilometers
of the Santos basin, focus in the BS-500 section, which has potential
to produce 20 million cubic meters of gas and 150 to 200 barrels
per day of oil, the Merluza section, with potential of 9 to 10
cubic million of gas, the Mexilhao area, with a 15 million cubic
meter capacity, the south area, with potential of 3 million cubic
meters and the center area, which is still in the exploratory
phase.
The Santos
basin is an area of around 352 square kilometers, off the coast
of Rio de Janeiro, Sao Paulo, Parana and Santa Catarina states.
Petrobras
and its partners have the exploration concessions for 40,663 square
kilometers of the basin.
- Elio Ohep, editor@petroleumworld.com, 58 412 996 3730, Caracas.
Petroleumworld 01 11 06
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