Brazil's Petrobras to Begin Oil Output at Baleia Branca

SAO PAULO -(Dow Jones)- Brazil's state-run oil firm, Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, will begin production Thursday at the pre-salt Baleia Branca oilfield off the coast of the southeastern state of Espirito Santo, the company said.

The floating production platform, located about 85 kilometers off the coast of Brazil, will begin output of 13,000 barrels of light crude a day and will reach capacity of 20,000 barrels a day by the end of this year, Petrobras said in a regulatory filing.

Petrobras said last month it plans to begin production from the Tupi field in the fourth quarter. Tupi is estimated to hold 5 billion to 8 billion barrels of oil equivalent.