WPC: Petrobras targets production, reserves expansion

Petroleo Brasileiro SA has targeted a major increase in oil and gas production and reserves from the deep and ultradeep waters of the Campos basin off Rio de Janeiro by the end of the decade.Petrobras executive César Luiz Palagi updated Campos basin production development in a paper presented Sept. 2 at the World Petroleum Congress in Rio de Janeiro.TargetsPetrobras is targeting Campos offshore production of crude oil averaging more than 1.8 million b/d "well before" 2010, Palagi said, up from the current level of 1.26 million b/d.As a result of aggressive deepwater development currently under way and planned, Petrobras also expects that its combined oil and gas reserves will climb...

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