Papa-Terra is a heavy oil development in the Block BC-20 of the southern Campos basin, which is situated around 70 miles southeast of Rio de Janeiro at a water depth of about 3,900ft.
The field is expected to begin full production in 2014, while it was discovered in 2003, which holds the installed capacity to produce 140,000 barrels of crude per day.
Chevron has 37.5% stake in the Papa-Terra field, and the project operator Petrobras holds the remaining 62.5% interest.
Chevron Africa and Latin America exploration and production president Ali Moshiri said, "The successful development of Papa-Terra is the result of a robust partnership between Chevron and Petrobras that integrates the unique skills and expertise of both companies to deliver challenging projects and new energy production."
