Brazil's Mexilhao all mixed up

摘要

Petrobras looks set to dump its current plans to develop a large field offshore Brazil in partnership with Repsol-YPF in order to keep the project all to itself as technology advances continue to reduce development cost estimates.The Brazilian operator may develop the Mexilhao natural gas field on its own despite having been in talks with the Spanish-Argentine outfit for around two years over a joint development. Mexilhao lies in the Santos Basin and according to one source: "The initial idea was to share investments, which were considered very high considering the risks at this mega-field. As time went by, the risk diminished as we are getting to know better the characteristics of the field and find efficient technological solutions."