Chinese firm puts project in Buzios oilfield into production in Brazil

Xinhua
01 Jun 2023, 14:55 GMT+10

RIO DE JANEIRO, May 31 (Xinhua) -- The Buzios5 Project of the Buzios oilfield in Brazil began production on Wednesday, said the China National Offshore Oil Corporation (CNOOC) Limited.

The Buzios5 is the fifth phase of the oilfield development and the first project to commence production after CNOOC Limited joined the Buzios project, said the company in a statement.

The project is expected to reach its production capacity of 150,000 barrels of oil and 6 million cubic meters of natural gas per day, said Huang Yehua, president of CNOOC Brazil.

The Buzios oilfield, approximately 200 km off Brazil's Rio de Janeiro, is located in the Santos Basin pre-salt area with an average water depth of some 2,000 meters.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Caribbean Herald.

More Information

31 ℃

Mostly Cloudy in Santo Domingo

Business

Section

Company says, ChatGPT will hear and speak with users

SAN FRANCISCO, California: In a major update that will move it closer to popular artificial intelligence (AI) assistants, such as ...

Nasdaq Composite drops 208 points Tuesday

NEW YORK, New York - There was a major bust on Wall Street on Tuesday as investors continued to fret ...

UAW stir hits GM, Stellantis dealers, customers with parts shortage

DETROIT, Michigan: This week, the United Auto Workers (UAW) expanded its members' strike to include dealers selling and servicing General ...

Toyota aiming for over 600,000 electric vehicles by 2025

TOKYO, Japan: Toyota Motor (7203.T) is ramping up its production of electric vehicles (EVs) under both the Toyota and luxury ...

240,000 Ford EcoSport SUVs being investigated for oil pump failures

WASHINGTON D.C.: After consumer complaints of oil pump failures, the National Highway Traffic Safety Administration's (NHTSA) Office of Defects Investigation ...

U.S. stocks make minor gains, Nasdaq Composite climbs 60 points

NEW YORK, New York - With no major news Monday, and nothing on the horizon, U.S. stocks remained little moved, ...

Latin America

Section