In October 2006, we announced an agreement with Petrobras, the Brazilian government-backed oil company, to produce up to 20 barrels per day of syncrude. Testing is scheduled to begin in 2008 at an on-shore Petrobras production site, and will subsequently be moved to an off-shore facility.
José Formigli, Executive Manager of PETROBRAS E&P Production Engineering, said: "We have chosen CompactGTL as our partner as we believe they are developing an economic solution for handling the gas produced in association with oil offshore where gas pipelines are not economically viable."
Carlos Tadeu, Executive Manager of PETROBRAS R&D Center, said: "We see this joint development as a potential major breakthrough in gas-to-liquids technology for offshore application."
The company plans to continue this intensive development programme with the first commercial GTL plant expected by 2010.
