Business Services Industry
Brazil: Petrobras secures funding for Campos basin.
South American Business Information, July, 2000
Petrobras got a US$4.45bil financing to be used in the exploitation of three oil and natural gas projects in the Campos basin in three years.BNDES will finance 40% of the projects, and foreign institutions will finance the remaining. US$2.5bil will be invested in the Barracuda and Caratinga oil fields, to increase the production in 250,000 barrels per day; US$1.1bil will be invested in EVM (Espadarte, Voador, and Marimba) oil fields; and US$850mil will be invested in the Cabiunas natural gas production. The company will receive US$1bil until the end of 2000, from which US$500mil will be invested in the EVM project; US$100mil will go to Barracuda and Caratinga; and US$200mil, to Cabiunas. Petrobras already produces 1.3mil barrels of oil per day, representing 75% of the...
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