Petrobras Deepens Its Roots in Buzios Field With a New Well Drilling [Yahoo! Finance]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
The operation is happening at a water depth of 1,700 meters, highlighting the technical depth and ambition of Brazil's national oil company in the pre-salt frontier. The drillship Atlantic Zonda, operated by Ventura Offshore and owned by Eldorado Drilling, is spearheading the project. Petrobras is one of Latin America's largest publicly-traded oil companies, which dominates Brazil's oil and gas sector. The company produces most of Brazil's crude oil and natural gas and accounts for almost the entire refining capacity of the country. With the company's encouraging portfolio of investments, particularly in Brazil's pre-salt reservoirs that lie in the Campos and Santos basins in deep and ultra-deep water, the country's energy outlook looks positive. Petrobras' aggressive development of the Buzios field, the largest deepwater oil field in the world, positions it for substantial long-term growth. Buzios is expected to reach 2 million barrels per day by 2030, representing an unmatched p
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