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According to a report by the Bloomberg News Agency in Rio de Janeiro on July 12, the Brazilian National Petroleum Administration (ANP) said here today that the Bureau has carried out the first production test on the Franco field located at sea. The Brazilian government may sell the oil reserves owned by the Franco oil field to Brazilian state oil company Petrobras in exchange for new shares.
ANP said that the results of the first production test conducted on the 2-ANP-1-RJS well indicated that this well may have the potential to produce 50,000 barrels of light crude oil per day. ANP stated on May 12 that the Franco Oilfield is estimated to have 4.5 billion barrels of recoverable oil reserves and is the second largest oil field in Brazil after the Tupi Oilfield.
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