By Mary Carroll, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Solange Guedes, executive manager of Petrobras Exploration and Production, announced on Monday that they will invest US$5.6 billion in the Programa de Aumento da Eficiência Operacional da Bacia de Campos (Program for Increasing Operational Efficiency in the Campos Basin, PROEF) by 2016.

PROEF has set fifteen actions for improvement and the modernization of equipment, focusing on wells and subsea systems. Over the years, saftey issues at the platforms have been . . .

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