Petrobras Starts Production At Green Turtle In Campos Basin
Zacks Investment Research | Jun 25, 2018 11:06PM ET
Petróleo Brasileiro S.A. or Petrobras (NYSE:PBR) recently announced that the company has started production from the Green Turtle field, located in the southern part of the prolific Campos Basin. The company is using the Cidade de Campos dos Goytacazes floating production storage and offloading (FPSO) vessel, chartered from MODEC, for this purpose.
The company has positioned the vessel in Deep Waters of the Campos Basin, around 127 kilometers from the Rio de Janeiro, where water depth is 765 meters. The vessel has a processing capacity of 150,000 barrels of oil along with 3.5 million cubic meters of gas. Moreover, it compresses 5 million cubic meters of gas per day.
The reservoirs in the field are at 3000 meters depth. The Green Turtle field includes the Tartaruga Verde and Tartaruga Mestiça deposits. Commencement of production in the area marks the company’s second platform coming online in 2018, with the first being FPSO P-74, Zacks Investment Research
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