Petrobras identifies oil leak in the Campos basin, enters into MoU

Petrobras has identified an oil leakage on the sea bed, 50 m from MLS-107 well in the Marlin Sul field in the Campos basin in 1,250 m of water and 110 km from Macaé.

Nov 22nd, 2004

Petrobras has identified an oil leakage on the sea bed, 50 m from MLS-107 well in the Marlin Sul field in the Campos basin in 1,250 m of water and 110 km from Macaé.

Technical personnel from Petrobras with special vessels are on site with equipment to analyze the possible causes of the leakage and to take preventive measures. Robotic submarines identified the source of the problem. The leakage has caused a surface slick. Personnel from Petrobras' Environmental Protection Center in Macaé and vessels are at the scene to mechanically disperse the oil.

Production in the Marlin Sul field is normal, since the MLS-107 well was not being operated.

Petrobras also has entered into a Memorandum of Understanding with Sevan Marine do Brasil Ltda, a subsidiary of the norvegian company Sevan Marine, for the use of Sevan Marine's SSP300 platform in the Piranema field under a long-term contract. The Piranema field is offshore of Sergipe State, 37 km from the city of Aracaju.

The platform is a FPSO (floating, production, storage, and offloading), which will be available and ready for operation in mid-2006. The final negotiations will start shortly, with a view to entering into a definitive agreement, subject to both boards approval.

The light oil to be produced, 40° API, is in water depth of 1,000-1,600 m. The FPSO has production capacity of 15,000 b/d. The platform chartering is in line with the objectives established in Petrobras' Strategic Plan of reaching a production of 150,000 b/d of light oil by 2006.

11/22/04

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