The Chinese-built platform is part of a multi-year plan that will turn the South American giant into a leading crude exporter.
CNOOC
A new agreement between each country’s state-owned oil company aims to deepen cooperation in oil and gas exploration and development.
China’s largest offshore oil and gas producer has a US$2 billion stake in the Buzios oilfield, the largest deepwater pre-salt oil field in the world.
Ultra-deepwater, pre-salt oilfield, which started operation last week, can produce up to 180,000 barrels per day and is expected to hit peak production by December.
Ultra-deepwater field 180 kilometres off Rio de Janeiro already producing up to 180,000 barrels per day.
More than a dozen companies vie for access in latest round of tenders for some of world’s largest gas reserves.
Regulatory approval has not yet been granted but the deepsea area under consideration is forecast to be highly lucrative.
