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Petrobras reportedly declares 19 Brazilian oil fields commercially viable

Petrobras reportedly declares 19 Brazilian oil fields commercially viable

SAO PAULO, Brazil (AP) _ State-owned oil company Petrobras on Friday declared 19 Brazilian oil and natural gas fields commercially viable, Brazilian media reported.
Petroleo Brasileiro SA said the fields contain estimated reserves totaling about 2.1 billion barrels of petroleum equivalent, the Agencia Estado news agency reported. Sixteen blocks are offshore, and three are beneath land.
The report gave no details on plans to develop the blocks and Petrobras did not immediately respond to a request for comment.
Royal Dutch Shell announced Thursday that one of its Brazilian offshore oil fields is commercially viable and that two deep-water areas of the block have been identified for development.
The latter field has estimated reserves of about 300 million barrels of very heavy crude. Shell is the lead operator of the block with a 40 percent stake. Petrobras also has a 40 percent stake, and U.S.-based Chevron Corp. holds 20 percent.
Petrobras and Shell had until the end of this year to declare whether the fields were viable, or return them to Brazil's National Petroleum Agency.


Updated : 2021-07-31 07:05 GMT+08:00