BRIEF-Galp starts operations in Iracema South (Brazil) ahead of time

miércoles 15 de octubre de 2014 04:02 GYT

Oct 15 (Reuters) - Galp Energia SA :

* Company says FPSO Cidade Mangaratiba began operations on Oct. 14, having started the commercial production of Iracema South area (in the pre-salt Santos basin) ahead of schedule

* FPSO Cidade Mangaratiba has the capacity to daily process up to 150,000 barrels of oil and 8 million cubic metres of natural gas and has a storage capacity of 1.6 million of barrels of oil

* The first well to be connected to the platform has a potential to produce more than 30,000 barrels per day and production plateau is expected by the first half of 2016

* Galp Energia, through its subsidiary Petrogal Brasil, owns a 10 pct stake in the consortium that explores Block BM-S-11, while Petrobras holds a 65 pct stake and the BG Group 25 pct

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