HRT, Petrobras and TNK set six-month timeline for Amazon gas development

12/18/2012

HRT, Petrobras and TNK set six-month timeline for Amazon gas development

BRASILIA -- HRT Participacoes em Petroleo and partners Petrobras and TNK Brasil set a six-month timeline for joint development of gas fields in the Brazil's Amazon region, HRT said.

The companies originally signed a protocol for development of gas projects in the Jurua field of Brazil's Solimoes basin in October. HRT said the timeline for the agreement was finalized last week during a visit of Brazilian president Dilma Rousseff to Russia, where TNK BP has offices.

HRT currently holds a 55% operating stake in 21 exploration blocks in Solimoes. TNK Brasil, a subsidiary of BP Russian joint venture TNK BP, holds the remaining 45% in that operation. Petrobras currently operates the remote Urucu field that has produced natural gas not far from HRT's discoveries.

Dow Jones Newswires

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