China National Offshore Oil Corporation (CNOOC) has commenced production at Brazil’s Mero oilfield Phase-I.
Huang Yehua, president of CNOOC Brazil, said that the project is already reaching its production capacity of up to 180,000 barrels per day.
CNOOC, the listed arm of China’s largest producer of offshore crude oil and natural gas, holds a 9.65 per cent stake in the Mero oilfield joint development project.
Mero is an ultra-deepwater oilfield situated approximately 180 kilometres offshore Rio de Janeiro in the Libra block. It is located in the pre-salt area of the Santos basin.
It is owned by the Libra Consortium, which is led by Petrobras (40 per cent) and includes Shell (20 per cent), Total (20 per cent) and CNPC (10 per cent) with CNOOC holding the remainder. Petrobras is the operator of the Libra Consortium.