Petroleo Brasileiro Petrobras SA And Partners, Including BG Group PLC’s Subsidiary, Start Oil Production At Sapinhoa Subsalt Field-Reuters

Reuters reported that Petroleo Brasileiro Petrobras SA (Petrobras) and its partners started production of subsalt crude at its Sapinhoa Norte field in the Santos Basin. Petrobras is the operator in the concession block BM-S-9 where the Sapinhoa field is located with partners BG E&P Brasil Ltda, a subsidiary of BG Group PLC which holds 30% of the block, and the joint venture Repsol Sinopec Brasil SA with 25%. Petrobras said it will begin by producing 15,000 barrels a day for up to six months from the field. The Sapinhoa is estimated to hold 2.1 billion barrels of recoverable oil equivalent.