Press Esc to close

WorldOil

World Oil News Center



Chevron expects to restart Frade production this week


RIO DE JANEIRO -- Brazilian state-run oil company Petroleo Brasileiro, or Petrobras, said that an offshore oil field operated by U.S. oil major Chevron shuttered since March 2012 because of an oil spill could restart production this week.

Chevron is in the final stages of obtaining authorization from local oil regulators and should open the taps "this week," said Jose Miranda Formigli, Petrobras' s exploration and production director. "Obviously, as a partner in the field, we' re very interested in the return of this production."

Petrobras expects to receive an average of 4,500 bopd  as the company' s share of output at the field, Mr. Formigli said. Petrobras holds a 30% stake in the Frade field, while Chevron operates the field with a 51.7% stake. The remaining 18.3% share is held by a consortium of Japanese firms.

Frade was the site of a drilling accident in November 2011 that caused an estimated 2,400 to 3,700 bbl of oil to seep into the Atlantic Ocean via cracks in the seabed. In March 2012, Chevron shut down production at the field after seeps appeared in another area of the field. Both Chevron and rig operator Transocean (RIG), which denied any wrongdoing in the accident, faced criminal and civil lawsuits for their roles in the oil spill.

Dow Jones Newswires

04/29/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events