Petrobras Makes Amazon Region Priority

Brazil’s federal energy company Petrobras (NYSE: PBR) has made the northern Amazon region one of its priorities for the expansion of its natural gas and light crude reserves, company officials told reporters during a tour of its operations in the region.

…At the current output rate, says Murakami, the Urucu field will only last another 25 years. In fact oil output from the three Urucu fields has already started to decline for the first time since the start of production in 1988. “We have to find an alternative,” he said.

Schlumberger