This excerpt taken from the PBR 6-K filed Dec 19, 2006.
P-34 starts producing in the Jubarte Field
Rio de Janeiro, December 18, 2006 - PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that the P-34 platform has started operations, beginning the Phase 1 of production at the Jubarte field.
The Jubarte-4 horizontal well will produce approximately 15 thousand barrels per day (bpd) of heavy oil, with API gravity of 17 degrees. Three other wells will constitute a contribution to P-34 to achieve its nominal capacity of 60 thousand bpd in the coming months. The second producer well, ESS-110, is estimated to start producing by the end of 2006. When the P-34 production reaches its peak, the Espírito Santo Business Unit (UN-ES) is expected to attain a production of 135 thousand bpd, contributing more significantly to the increase of the national oil production.
The start of production of the P-34 platform represents another important step towards the achievement of Petrobras petroleum production goals set forth in its Strategic Plan.