Brazilian state-led oil producer Petrobras pumped first oil from the offshore Tartaruga Verde Field, completing installation of the company’s second new floating production unit to enter service in 2018, Petrobras said in a statement Monday. The Cidade de Campos dos Goytacazes floating production, storage and offloading vessel, or FPSO, started production on Friday, Petrobras said. The FPSO is capable of pumping 150,000 b/d of oil and processing up to 3.5 million cu m/d of natural gas, according to Petrobras. Natural gas compression capacity, which is used to reinject gas in order to increase oil-recovery rates, is 5 million cu m/d, Petrobras said. “This is the second platform to enter operation this year and will contribute to Petrobras’ increase in production under the horizon of the 2018-2022 strategic business plan,” Petrobras said. Petrobras set its annual production target at 2.1 million b/d in 2018, down slightly from the 2.154 million […]