Brazil’s Petrobras aspires to reduce the amount of time from oil discovery to first production at its deepwater fields by almost 50% by 2029, while exploring ways to skip the exploratory drilling phased, an executive said on Wednesday.
Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, wants to cut the period of time from discovery to “first oil” to just 1,000 days, down from the current time frame of around five years, said Petrobras Exploration and Production Director Carlos Alberto Pereira de Oliveira.
Brazil Energy Insight 
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