This excerpt taken from the PBR 6-K filed Nov 28, 2007.
PLATFORM P-52 KICKS OFF PRODUCTION
(Rio de Janeiro, November 28, 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 platform P-52, designed to produce 180,000 barrels of oil per day at full capacity, will start production today in the Roncador field, in the Campos Basin (RJ).
Initially, the new platform will start by lifting 20,000 barrels per day (bpd). Production is expected to peak in the second half of 2008. When in full operation, this unit will be interconnected to 18 producer and to 11 water injector wells. Roncador field is located 125 kilometers off the Rio de Janeiro coast.
The oil that will be lifted will be sent to an autonomous re-pumping platform (PRA-1) and then transferred to a floating production storage unit (FSO Cidade de Macaé), which will also concentrate production coming from four other platforms that will kick off operation in that region in the upcoming years. From the FSO Cidade de Macaé the oil destined to domestic consumption will be transferred through off-loading ships to the São Sebastião terminal, in the coast of São Paulo. The oil to be exported will be directly dispatched through off-loading ships.
The gas will flow through a gas pipeline to a distribution unit and, from there go to the Garoupa platform and on to the mainland. The peak of the gas flow will be 3.2 million m3 per day and will probably be reached at the end of 2008.
Platform P-52 start up is an important step in order for Petrobras to achieve the production goals its Strategic Plan calls for.
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
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: November 28, 2007
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