Offshore Activity

Brazil says oil production at Libra to be delayed

Oil production from the first rig to operate in Brazil’s Libra area will not start in July as previously planned due to problems installing equipment, Ibsen Flores Lima, president of state-controlled Pré-Sal Petróleo SA, said on Thursday on the sidelines of a conference.

Libra is one of the largest oil reserves in Brazil, with recoverable volumes estimated by oil regulator ANP at between 8 and 12 billion barrels.

Brazil’s oil company Petróleo Brasileiro SA is the operator in a consortium that includes Royal Dutch Shell Plc , Total SA and the Chinese companies CNPC e CNOOC. (Reporting by Marta Nogueira; Writing by Marcelo Teixeira)

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