US oil major Chevron (NYSE: CVX) has started a drilling campaign at its offshore Frade field in Brazil's Campos basin, hydrocarbons regulator ANP reported.
The company is using the Noble Leo Segerius rig in six pioneer wells and expects to reach final depths of 2,642m-3,799m.
Chevron hopes to begin production at Frade second quarter 2009. The company does not yet produce oil in Brazil.
Frade contains estimated reserves of 200M-300Mboe.
Chevron operates Frade with a 51.7% stake. Federal energy company Petrobras (NYSE: PBR) holds a 30% interest and independent oil group Frade Japão the remaining 18.3%.
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