New Tupi oil well 'will produce 50,000 barrels a day'
Date added: 19th November, 2009 at 09:17
(view all articles from November, 2009)
Categories: Natural Resources
More international investment in Brazil's energy industry could be generated after Petrobras announced the results of an assessment of a new oil well.
The state-owned hydrocarbons giant said that the well, which is located in the Tupi field south of Rio de Janeiro in the Santos Basin, will be capable of producing up to 50,000 barrels of oil per day.
Petrobras released the statement after carrying out preliminary tests on the site, during which the flow was measured at 5,500 barrels per day.
The well lies 2,200 metres below the waterline and was first drilled by the oil company back in September 2009.
Having been satisfied with the tests, Petrobras said it proves "the Tupi area's high light oil production capacity".
The results come after the energy company released its oil production figures for October, which showed that its average daily output was more than two million barrels per day.
This marks a 6.8 per cent rise from the same time last year.
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