Petrobras says Libra field costs will not delay other projects

Reuters

RIO DE JANEIRO, Oct 28 (Reuters) - The cost of developingthe giant offshore Libra oil field will not delay other projectsin the portfolio of Brazil's state-run oil company PetroleoBrasileiro SA, Director of Exploration José FormigliFilho said on a phone conference on Monday.

Since Petrobras took a 40 percent stake in Libra, it hasfaced concern that development costs of about $100 billion over30 years might strain a company with rising debt and an alreadyhuge $237 billion five-year investment plan.

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