Rio - Petrobras has announced that it will soon place two new oil rigs into operation, increasing production by 15%.

The first rig, the P-34, is already on its way to the Campos Basin oil field where it will be installed 182 kilometers off the coast of the state of Rio de Janeiro. The ocean depth at that point is 800 meters. The rig will begin operating in November and should reach production capacity of 150,000 barrels per day by mid 2005.

The second rig, the P-48, is now in the final stages of construction at the Brasfeld shipyard in Angra dos Reis, state of Rio de Janeiro. It also has a production capacity of 150,000 barrels per day and will begin operation in January.

The two new rigs will mean that Brazil should be self-sufficient in petroleum in 2005. Petrobras says it intends to raise production by 5.9% annually between now and the year 2010.

Agência Brasil
Reporter: Vítor Abdala
Translator: Allen Bennett
10/15/2004