Brazil’s Libra oil prospect will ‘easily’ produce up to a million barrels a day, the country’s chief regulator says.
The country is preparing for the next bidding round in October, and expects production to double by 2020 after Petrobras’ success with the Lula field.
The new field is expected to have between 12 and 18 production vessels operating on it, with each producing as much as 30,000 barrels a day.
Magda Chambriard said the country expected production to start in the Libra field within five years.
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