Posted on 03/07/2011 11:00:07 AM PST by socialism_stinX
Petróleo Brasileiro S.A. reports success from its extension drilling at exploration well 3-BRSA-891A-RJS in the Iara Evaluation Plan offshore Santos basin concession BM-S-11. The pre-salt well is 8 km (5 mi) from the discovery well and is in 2,279 m (7,477 ft) of water. Formation tests are to be performed to determine productivity.
OGX Petróleo e Gás Participações S.A. reports hydrocarbons in its 1-OGX-31-RJS well in BM–C-41 in shallow waters of Campos basin. An oil column of about 149 m (489 ft) with approximately 48 m (157 ft) of net pay in the Albian section and a column of 59 m (194 ft) with net pay of 23 m (75 ft) in the Aptian section are reported. Drilling of well OGX-31, also known as the Osorno prospect, was concluded at TD of 3,786 m (12,421 ft).
(Excerpt) Read more at offshore-mag.com ...
(Meanwhile the US Interior Dept. has difficulty processing offshore drilling permits in any reasonable length of time.)
Just in time for Carnival.............
Ah yes, Carnival. Some people say you haven’t live a full life until you’ve been to Carnival in Rio.
We got Mardi Gras.
That’s good enough for me.................
I've been to three county fairs...
Brazilians brought some outdated (for us) equipment from our company and one our tech went down there to show them how to us.He was very happy to be home and said everyone needs to work for two weeks in such a country, then no one would complain about the US.
I know what he’s talking about. I worked with a software developer from India who said his father had to bribe seven people to get telephone service installed at his house. That’s the way they do business in India, and many other places.
Soros invests in overseas production, then works to constrict domestic production, knowing full well that the leftist American press would not DARE to expose the leftists' favorite Sugar Daddy.
Notice that while dithering about the safety of deep-water drilling in 5,000 feet, The Obama administration provided somewhere between $2 billion and $10 billion in loan guarantees to Petrobras to facilitate Ultra- deep-water drilling at 7,000-10,000 feet.
The largest stockholder in Petrobras is the Brazil govt. Pemex owns about 10%
The Brazil Dev Bank came in at 14.5 bil. A group of international banks came in at 5.5 bil and then the China Dev Bank came in at 10 bil.
After China came at 10 bil, the US wanted to get in for 10 bil but since Brazil had reached the 30 bil they didn't need the US 10 bil until 2014. So Obama sent NSA Jones down there with some blank checks he convinced them to accept the 2 bil and a commitment for the 8 bil in 2014.
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