Petrobras restarts Coral well

Brazil's federal energy company Petrobras (NYSE: PBR) has restarted production on well 3D in the Santos basin's Coral field, minority partner Coplex Brasil and its Canadian parent Naftex said in a statement Monday night. 3D was initially put on stream in February 2003 but had to be closed down in March due to a leak in the production string. Stabilized production is expected within a week, when production data from the well will be released. Coral lies off the coast of Santa Catarina coast. Petrobras owns 35% and is the operator, Coplex Brasil owns 27.5%, and Brazilian companies Queiroz Galvao Perfuracoes and Starfish Oil & Gas own 30% and 7.5%, respectively. The same partners also own Santos licenses Estrela-do-Mar and BS-3.