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Chevron Begins Offshore Oil Production in Brazil

24 June 2009

US oil company Chevron has started oil production at its first operated deepwater development Frade field off the coast of Brazil.

Production is through subsea-completed wells individually tied back to an internal turret-moored floating production, storage, and offloading vessel with a 1.5 million bbl oil storage capacity.

Chevron plans to continue development drilling in the $3-billion (€2.1 billion) project, the company estimating the field to contains 200-300 million bbl of recoverable oil, and with a daily production output at Frade of 30,000 barrels of oil equivalent by the end of 2009 and 90,000 by 2011.