Petrobras: Eyeing riches at 'Shell Park'
'Shell Park' poised to produce 100,000 bpd
Brazil's Petrobras expects its Parque das Conchas (Shell Park) offshore project in the Campos basin to start operations in 2009 at a rate of 100,000 barrels per day, the company said.
"It's one of our major projects for next year," company E&P general manager Jose Jorge de Moraes Junior said.
Parque das Conchas is in an area formerly known as BC-10 and previously was scheduled to begin operations in 2010, said a Business News Americas report.
Anglo-Dutch oil company Shell operates Parque das Conchas with a 50% stake. Petrobras holds 35% and Indian group ONGC the remaining 15%.
Meanwhile, output at the Frade field, operated by US oil major Chevron is due to start in 2009, according to Moraes. Petrobras has a 30% stake in Frade.
Chevron previously has said Frade could reach 85,000 bpd in 2011.
Production from foreign oil companies will reach 400,000 bpd in Brazil by 2012, Moraes said.