Brazil's state-led oil company said expected work will include 26 production wells and 227 well interventions in areas including the Miranga, Big Water, Taquipe and Candeias fields.

Petrobras has pledged to spend 3.2 billion reais ($1.49 billion) to maintain stable production in the area, which yields about 50,000 barrels of oil and 8.3 million cubic metres of gas per day.

"Petrobras continuously evaluates its portfolio of opportunitiesin the region, with the aim of increasing production by introducing newtechnologies," it said in a statement.

"Itconfirms