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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.96

+0.2%

Nov 19 4:00 PM EST

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To: Hawkmoon who wrote (88334)	3/23/2012 11:54:46 AM
From: elmatador	1 Recommendation Read Replies (1) of 217901

$4 billion per month is $48 billion per year about PBR $224 billion in 5 years. The Western Hemisphere got serious about oil... The North Sea reached peak production of 6 million barrels a day in 1999, Nepomuceno said. Petrobras plans to triple production to 6 million barrels a day by 2020, including output from deep-water reserves where Petrobras bought production rights from the government last year. Petrobras is revising its $224 billion, five-year investment plan and the company’s board may approve it on July 22, Nepomuceno said, without providing details of the plan. Rising output rates in the pre-salt area are reducing costs because the company can supply each production platform with fewer wells, Nepomuceno said. Each pre-salt well costs about $100 million dollars to drill in Brazil. Improved productivity will help compensate for the larger exploration area Petrobras needs to tackle under its new plan, he said. “It’s possible for investments to remain similar,” he said.

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