Petroleo Brasileiro announced it started production at a well in the Baleia Azul field in the lucrative Campos Basin. A floating, production, storage and offloading platform dedicated to production there has the capacity to process 100,000 barrels of oil and about 120 million cubic feet of natural gas per day.
The company said initial production from the well, already connected to the FPSO, is estimated at 20,000 bpd. Peak production of 100,000 bpd is expected early next year.
The FPSO is installed in 4,000 feet of water about 50 miles off the coast of Brazil. Any gas processed will be sent by pipeline to an onshore treatment unit.
The company in early August said it would charter 12 floating drilling platforms for use in the nearby Santos Basin. The Brazilian government will have a majority stake in the platforms, which Petrobras will charter for 15 years.
Petrobras said there was an estimated 2.1 billion barrels of oil equivalent in the region.
2014: The Year in Music [PHOTOS]