Latest News:  


Brazilia's new oil field to produce 1 mln barrels daily


14:01, July 13, 2013

RIO DE JANEIRO, July 12 (Xinhua) -- The output of Brazil's largest oil field Libra, discovered in 2010, is estimated to surpass 1 million barrels of oil per day, Brazil's National Petroleum Agency (ANP) said on Friday.

"Libra will have production peaks of 1 million barrels a day, to say the least," said Magda Chambriard, president of the ANP.

The field, located some 180 kilometers off the coast of Rio de Janeiro,will have 12 to 18 operating platforms, each with an estimated production of 150,000 barrels per day, she said.

The ANA believed that Libra holds between 26 billion and 42 billion barrels of crude, the country's largest find, while Chambriard said that its recoverable reserves stand between 8 billion barrels and 12 billion barrels.

The field will be submitted to a public bidding process, which will grant exploration rights in the field for a 35-year period, not renewable. The bidding will take place on Oct. 21 in Rio de Janeiro.

The company to win the auction will have to cooperate with Brazil's oil giant Petrobras, as well as Petrosal, a new state-owned company created for operating the pre-salt fields.

Brazil currently consumes some 800 million barrels of crude a year, according to the ANP. The Libra field alone has enough oil to satisfy the country's current consumption rate for 12 years, ANP officials said.

We Recommend:

How did Chinese solar industry go bankrupt?

Born to lead: 2nd gen of Chinese tycoons

Chinese graduates’ unconventional jobs

China's largest railway terminal officially opens

Dazzling gems shine at Beijing jewelry show

Boeing 787 Dreamliner to serve Beijing-Haikou route

New high-speed rail linking Nanjing, Ningbo opens

Jiaxing-Shaoxing Sea Bridge in E China

Chinese investors' happiness and sadness

Email|Print|Comments(Editor:WangXin、Wang Jinxue)

Leave your comment0 comments

  1. Name


Selections for you

  1. Snowden seeks political asylum in Russia

  2. China, Russia hold largest-ever joint naval drills

  3. Chinese female sailors

  4. Rising water level surges Hukou Waterfall

  5. Workers restore bridge's damage caused by flood

  6. Typhoon Soulik kills one in Taiwan

  7. Feng to direct CCTV Spring Festival Gala

  8. Items of Xinjiang Presents Design Competition

  9. Model poses at Changchun auto show

  10. 2013 China Int'l Boat Show kicks off

Most Popular


  1. Chinese economy not to take hard landing
  2. RMB becomes more market-oriented: official
  3. High hopes for high-tech export reform
  4. China's automobile organization slams car limits
  5. Shortage of teachers hurts kindergartens
  6. Building on past successes
  7. Inflow of 'hot money' tackled, expert says
  8. Caution urged in seeking experts from abroad
  9. China didn't cause German solar firms' bankruptcy
  10. China, U.S. discuss cyber security

What’s happening in China

China's Chongqing issues orange-coded alert of heat

  1. Typhoon Soulik approaching Taiwan
  2. China counts on multicultural talents
  3. Zoo crocodiles killed by visitors
  4. Books on dating become a hit 24 years later
  5. Counting the cost of living in Beijing