Petrobras Starts Producing Oil from the Agbami Field

Source: www.gulfoilandgas.com 7/31/2008, Location: Africa

Petrobras holds 13% stakes in the Agbami Field, in Nigeria, which started producing oil this week. The other partners in the business are Norwegian StatoilHydro, and American outfit Chevron, the operator. Nigerian National Petroleum Corporation and Famfa Oil Limited are also Agbami field partners, as concessionaires.

The FPSO (Floating Production, Storage and Offloading) type vessel that operates in block OML-127 (Agbami) is the biggest ever to be installed in the world for this purpose and is capable of producing 250,000 barrels of oil per day (boed). The field’s average depth is 1400 meters.

Production is expected to peak in the second half of 2009. Petrobras’ share will be 33,000 boed of the light oil production, with API gravities ranging from 43 and 45 degrees. This production will represent some 13% of the volume Petrobras produces abroad.

Petrobras has had wide-ranging participation in all Agbami production development stages, with professionals assigned to several project areas ever since its conception, making a decisive contribution with their knowledge on deepwater exploration and production.


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