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Category: BRAZIL Pre-Salt

Written by F. Busquet

March 6, 2013 - by PreSalt.com

The announcement of the increase in the diesel price at the refinery by Petrobras (NYSE: PBR, NYSE: PBRA) was received with surprise by the market, which responded with an immediate appreciation of the shares and a great and good surprise for Petrobras's cash flow, which can now begin to recover and give more support to the company's business plan.

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Category: BRAZIL Pre-Salt

Written by F. Jimenez - Translate - Sources

March 5, 2013 - by PreSalt.com - Source: Petrobras Agency
Petrobras announced today (05.03.2012) the occurrence of good quality oil in well 3-RJS-706 (3-BRSA-1132-RJS), located in the Iara, in block BMS-11, pre-salt of Santos Basin. The well is located 226 km off the coast of Rio de Janeiro, about 6 km from the discovery well (1-RJS-656, Iara), at a water depth of 2,197 meters.
Petrobras (NYSE: PBR, NYSE: PBRA) is the operator of the consortium (65%) in partnership with BG Group - BG E&P Brazil (LON: BG, OTC: BRGYY, PINK: BRGXF) (25%) and GALP - Petrogal Brazil (ELI: Galp) (10%).

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Category: Brazilian Pre-Salt Production

Written by F. Busquet

March 5, 2013 - by PreSalt.com

Total production in the Brazilian pre-salt was 73,979,748 boe, 44% higher than in 2011, which was 51,545,154 boe. In the 2012 production were involved in commercial production or testing, 18 wells, of which 15 were in production in December 2012.

Five producers were present in these results, Petrobras as operator and owns the largest share of concessions, with 100% in Blocks BC-60, BC-50B, BC-50 and BC-50MRL, 65% in the BM-S-11 and 45% in the BM-S-9; BG Group as the largest partner of Petrobras in two pre-salt producers blocks in 2012, BM-S-9 (30%) and BM-S-11 (25 %); The association of Spanish Repsol and Chinese Sinopec as the third member in the BM-S-9 with a 25% of the interest and Portugal's Galp through its Brazilian subsidiary Petrogal participating in 10% of the BM-S-11 block.
All of them had significant growth in its share of production from the pre-salt with the exception of the association Repsol - Sinopec (due to finish of production wells in tests).

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Category: Brazilian Pre-Salt Production

Written by F. Busquet

March 4, 2013 - by PreSalt.com

BG Group (LON: BG, OTC: BRGYY, PINK: BRGXF) through his company in Brazil, BG Brazil, has been producing oil and gas in pre-salt layer of Brazil since May 2011. The Bg Group participates in blocks that are already producing in the pre-salt layer through their partnerships with Petrobras (NYSE: PBR, NYSE: PBRA) as operator and principal partner and GALP - Petrogal (ELI: GALP) as a minority partner in the BM -S-11 and also having as majority shareholder and operator Petrobras and minority partner, Repsol / Sinopec (Repsol - MCE: REP, NYSE: REP) in block BM-S-9. In Block BM-S-11 BG Group has a 25% interest and in Block BM-S-9 participation is 30%.