Petrobras to Spend $75 Billion on Oil Rigs by 2020, Folha Says
April 23, 2010, 7:52 AM EDT
April 23 (Bloomberg) -- Petroleo Brasileiro SA will spend at least $75 billion to build 25 new rigs for offshore oil production and storage by 2020, Folha de S. Paulo reported, citing Chief Executive Officer Jose Sergio Gabrielli.
Almost half of the new rigs will be used to explore offshore pre-salt fields in Brazil’s Santos Basin, the newspaper said.
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