RIO DE JANEIRO, May 31 (Xinhua) -- The Buzios5 Project of the Buzios oilfield in Brazil began production on Wednesday, said the China National Offshore Oil Corporation (CNOOC) Limited.
The Buzios5 is the fifth phase of the oilfield development and the first project to commence production after CNOOC Limited joined the Buzios project, said the company in a statement.
The project is expected to reach its production capacity of 150,000 barrels of oil and 6 million cubic meters of natural gas per day, said Huang Yehua, president of CNOOC Brazil.
The Buzios oilfield, approximately 200 km off Brazil's Rio de Janeiro, is located in the Santos Basin pre-salt area with an average water depth of some 2,000 meters.
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