Petrobras (PBR) Director Sees Estimate on Carioca Field in '08 Unlikely -DJ

June 30, 2008 12:01 PM EDT
Dow Jones is reporting that at the World Petroleum Congress being held this week, Petrobras' (NYSE: PBR) Director of E&P, Guillherme de Oliveira Estrella, said that a reserve estimate for its Carioca field in 2008 is unlikely. Further, Estrella said that an estimate is depending on approval of an evaluation plan for this area by Brazil's National Petroleum Agency.

The director also noted that Petrobras is already drilling at two exploration wells in Carioca: in the Jupiter gas field and at the lara accumulation near the Tupi field.

Petroleo Brasileiro S.A., or Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks.

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