Brazil's ANP to Meet with Chevron Next Week on Frade Restart
07/27/2012| 04:46pm US/Eastern
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RIO DE JANEIRO--Brazil's National Petroleum Agency, or ANP, said late Friday that it will meet next week with U.S. oil major Chevron Corp. (>> Chevron Corporation) to discuss restarting crude oil production at the site of a November oil spill.
In a statement, the ANP said that it will take up to 30 days to analyze the company's plans to restart output at the Frade offshore field before making a decision. Chevron was not immediately available to comment on the ANP's statement.
The ANP said earlier this month that it would fine Chevron for 25 separate infractions related to the company's response to a November drilling accident that caused 3,700 barrels of crude oil to seep into the Atlantic Ocean from cracks in the seabed. The ANP is expected to levy a fine of up to $25 million against Chevron for the infractions.
Additional seeps at the field were discovered in March. The ANP is currently preparing a report on those leaks, which could lead to additional sanctions, agency officials said previously.
Chevron and drill-rig operator Transocean Ltd. (>> Transocean LTD) also face civil and criminal lawsuits for their roles in the incident at the Chevron-operated Frade offshore oil field. Both companies have denied any wrongdoing.
-Write to Jeff Fick at jeff.fick@dowjones.com
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