Petrobras reports a production record of 40,000 barrels per day at Cascade and Chinook

Rio de Janeiro, March, 6^th, 2014 – Petróleo Brasileiro S.A. – Petrobras announces that, on March 04^th, 2014, production at Cascade and Chinook fields hit 40,000 barrels per day. This figure represents a new production record for the fields, which produce through three wells in Cascade and two wells in Chinook. This achievement is due to the start-up of two new wells, Chinook-5 and Cascade-6, which added 28,000 barrels per day to the previous production of 12,000 barrels per day.

Cascade and Chinook fields are located 260 km south of the coast of Louisiana and 24 km apart, at a water depth of 2,500 meters. The wells have an average depth of 8,000 meters and produce to the BW Pioneer vessel, the first FPSO (Floating Production Storage and Offloading) approved to operate in the U.S. Gulf of Mexico. The oil is transferred from the FPSO to shuttle tankers and delivered to refineries and terminals along the North American coast.    

Petrobras America, Inc is the operator in both fields, and owns 100% of the stakes in the Cascade field and 66.7% in the Chinook field, in partnership with Total E&P USA, Inc, which holds the remaining 33.3%.

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