Petrobras offers 2014 plan for offshore oil exploration in Libra block

Offshore staff  

RIO DE JANEIRO – Petrobras reports that the consortium of Petrobras (40%), Shell (20%), Total (20%), CNOOC (10%), and CNPC (10%), along with Pré-Sal Petróleo SA (PPSA), has approved the group’s 2014 working and investment plan for the offshore Libra block, located in the ultradeep waters of the presalt Santos basin. The approved 2014 capital expenditure is $400 million to $500 million.

The block’s four-year exploration phase, which began Dec. 2, 2013, includes 3D seismic acquisition, two exploratory wells, and one extended well test. The area is 1,547.76 sq km (598 sq mi), and was discovered in 2010.


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