HRT Sells its First Crude Oil Shipment

Source: www.gulfoilandgas.com 2/3/2014, Location: South America

HRT Participacoes em Petroleo S.A., together with its wholly-owned subsidiary, HRT O&G Exploracao e Producao de Petroleo Ltda., announce that, in the last week of January, 2014, they concluded the first crude offtake of 233.3 thousand barrels (net HRT) under HRT O&Gís responsibility as the operator of the Polvo Field, in the Campos Basin. Next HRT O&Gís crude oil sale will likely happen by no later than the first week of March, 2014, with an estimated volume of 400 thousand barrels.

Additionally, HRT reports that the average oil and natural gas production in the Polvo Field, in January 2014, was 13.5 thousand barrels of oil equivalent per day (boed). The oil production, itself, reached an average of 11.2 thousand barrels/day (bpd) out of which 6.7 thousand barrels/day correspond to HRTís part (60%). This first month of HRTís operatorship, Polvo Field produced uninterruptedly, without record of incidents.

Maersk Oil Brasil Ltda. is the partner of HRT in the Polvo Field, with a 40% participating interest.

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