Chevron to Run Offshore Oil Operation in Brazil
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From Bloomberg News
Chevron Corp. said it would work with Petroleo Brasileiro on a $2.4-billion project to pump oil from the Frade offshore field in Brazil.
Chevron will operate the project, which will be one of the first major foreign-operated oil fields in Brazil in half a century. Frade is scheduled to begin output by late 2008 or early 2009, the San Ramon, Calif.-based company said.
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