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Petrobras Plans to Invest $1.9 Billion in Gulf of Mexico


Published May 3, 2005
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Petrobras will invest $1.9 billion in Gulf of Mexico oil and gas exploration and development over the next five years, Petrobras America Inc. President Renato Bertani said at a conference Monday in Houston.

Petrobras plans to drill seven wells in the Gulf of Mexico in 2005, four as a partner and three as an operator.

On April 04 2005, the Company broke its new daily oil production record in Brazil with an output of 1,666,492 barrels.

This performance is particularly significant when compared with average oil production in Brazil for the fourth quarter 2004 of 1,510,530, representing a 9.3% increase. In comparison with the average for 2004, the figure represents an increase of 10.59%.




   

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