Offshore Production Platform to be Constructed in Northeast Brazil

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil), through its Ceara Exploration and Production Unit subdivision, is adding a second production platform in the Espada Field, located in the Potiguar Basin in northeast Brazil.

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The shallow-water platform, Espada 02 (PEP-02), will be installed about 30 kilometers offshore at a depth of 36 meters. The project has a total investment value of $200 million.

Initially, the platform will have a production capacity of 3,000 crude oil barrels per day and 100,000 cubic meters of natural gas per day. The engineering is expected to be completed by the end of 2014.

Along with the platform, the project includes the drilling of five new production wells and three injection wells, which will be connected to the PEP-02, and a crude oil pipeline that will connect the platform to the shore of the city of Paracuru. There is still no decision regarding whether a storage terminal or a processing facility will be built in the city.

The platform construction is scheduled to begin in the last four months of 2015 and to start operations at the beginning of 2017. This would be the 10th platform to operate in the province of Ceara, and the 38th in the Potiguar Basin. Petrobras has operated in this basin since 1976.

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