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CNOOC Limited reports production of crude oil from Libra Block in Brazil.

M2 EQUITYBITES-November 27, 2017-CNOOC Limited reports production of crude oil from Libra Block in Brazil

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Oil & gas company CNOOC Limited (NYSE:CEO) (TSX:CNU) on Monday announced flow of oil from the Libra block located off the Rio de Janeiro coast in Brazil.

The company said the Libra block had its first oil produced with the Pioneiro de Libra FPSO, destined to extended well tests, with the purpose of evaluating the dynamic behavior of the oil reservoir and deepening the knowledge on the characteristics of the deposit.

According to the company, the Pioneiro de Libra has a daily operational capacity rate up to 50,000 barrels of crude oil and 4m cubic metres of associated gas.

CNOOC holds 10% in the Libra Consortium, with the operator Petrobras (40%), Shell (20%), Total (20%) and CNPC (10%).

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Publication:M2 EquityBites (EQB)
Geographic Code:3BRAZ
Date:Nov 27, 2017
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