Petrobras says Libra field costs will not delay other projects
RIO DE JANEIRO
RIO DE JANEIRO Oct 28 (Reuters) - The cost of developing the giant offshore Libra oil field will not delay other projects in the portfolio of Brazil's state-run oil company Petroleo Brasileiro SA, Director of Exploration José Formigli Filho said on a phone conference on Monday.
Since Petrobras took a 40 percent stake in Libra, it has faced concern that development costs of about $100 billion over 30 years might strain a company with rising debt and an already huge $237 billion five-year investment plan.
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