Japan-Brazil oil field development

Japan and Brazil  to cooperate in developing a deep-sea oil field off the Brazilian coast.A project is underway to explore for oil at a depth of over 2,000 meters in the Atlantic Ocean. Brazil's state-run oil company Petrobras is investing more than 120 billion dollars in the 5-year project.Brazil is asking Japan to provide shipbuilding and marine development technologies for exploration and drilling work.Japanese government hopes to help domestic businesses win contracts in the project. Japan wants to accumulate know-how for the development of its own marine resources. Brazil and Japan the two countries are expected to exchange a written agreement in Tokyo next week.

 Brazil's state-run oil company Petrobras on January 21, 2008, announced the discovery of Jupiter, a huge oil field which could equal the Tupi oil field. It is located 37 km (23 mi) from Tupi, 5,100 m (16,730 ft) below the Atlantic Ocean, 290 km (180 mi) from Rio de Janeiro. April 14, 2008, a second massive oil field was announced in the same region as the Tupi oil field with reserves estimated at 33 billion barrels (5.2×10⁹ m³) of oil.
On May 21, 2008, Petrobras announced the discovery of a third megafield, located on the coast of the State of São Paulo.Petrobras doubled its daily production of oil and natural gas, surpassing the mark of 2 million barrels (320,000 m³), Brazilian company started production on the P-50 oil platform, in the Albacora East Field at Campos Basin, which gave Brazil self-sufficiency in oil production. A project Located in the hydrocarbon-prolific Northern Campos Basin, 

Frade is a fast-track project in the ultra-deepwaters of Brazil.  
Brazil, Chevron serves as the operator with 51.7% interest in the field. Partners include Brazilian NOC Petrobras with 30% and Frade Japao Limitada, a Japanese partnership led by Inpex, with 18.26%.

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