Offshore staff
(Brazil) - Petrobras says its Papa-Terra field has significant commercial potential.
The operator reports that results from preliminary appraisal work on the field indicate estimated potential recoverable oil reserves at between 700 MMboe and 1 Bboe. The discovery well 4-BRSA-2180-RJS found crude oil with an API between 14° and 17°.
The field is located in block BC-20 in the southern part of the Campos Basin in 1,200 m of water. Petrobras anticipates that the new field will start production by the end of 2011.
Petrobras is operator and 62.5% owner of the field, and Chevron Overseas of Brazil Ltda. holds the remaining 37.5% working interest.
12/28/05
