Petrobras to invest some $300 mln to drill two Potiguar Basin wells - exec [Reuters]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
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Source: Reuters
The license granted by environment agency Ibama on Friday was the first since 2013 for Petrobras to drill in the so-called equatorial margin, an extensive area in northern Brazil that is seen a new great frontier for oil and gas exploration. “The rig arrived in Rio de Janeiro today to get the hull cleaned, which could take two to four weeks, and after that we will move it there for drilling,” Chief Exploration and Production Officer Joelson Falcao Mendes said late on Monday. The first well, named Pitu Oeste, will be drilled 52 km (32.3 miles) from the coast in block BM-POT-17, with operations planned to start between October and November. The second, Anhanga, will be drilled nearby on the coast of Rio Grande do Norte state. Mendes said the estimated investments were based on an average and would depend on the actual duration of the drills, both of which are expected to take around four to five months to complete. The company is planning on obtaining more geological informatio
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