This excerpt taken from the PBR 6-K filed Oct 17, 2007.
New Petrobras technology boosts reservoir productivity
(Rio de Janeiro, October 16, 2007). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that it has successfully completed the first 100 days of operation of the Submarine Centrifuge Pumping System (BCSS), installed at well JUB-6, in the Jubarte Field, in the Espírito Santo portion of the Campos Basin. The well, where production was anticipated to top out at 10,000 barrels per day, is now producing 24,000 barrels a day using the new system, a 140% increase.
The technology, developed by Petrobras together with its vendors, has great potential not only to increase producer field productivity, but to make commercial production viable in deepwater fields, particularly those containing heavy oil. In addition to its application in large accumulations to raise the oil recovery factor, the system can be used to make commercial production viable at smaller or marginal fields previously considered commercially unviable.
The system, part of the Heavy Oil Technological Program (Propes), is fundamentally important to maintain Brazilian oil self-sufficiency, since most of the Brazilian oil reserves hold heavy and extra-heavy oil, and the challenges involved in pumping this type of oil are very big.
The equipment went online in the first half of 2007 and will be followed-up on closely through the end of 2007 for the company to consolidate its mastery over the technology. The next BCSS is planned to be installed in a well in the Marlim Leste field, in the Campos Basin.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: October 16, 2007
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