Rio de Janeiro (“Rio”) lies on a strip of Brazil’s Atlantic coast.  Rio is the second largest city in Brazil and has the third largest metropolitan area in South America, with a population of nearly 13.5 million.  Rio represents the second largest GDP in the country and ranks 30th in the world.

The city is commonly divided into historic downtown, known as Centro (a major financial center);  the South Zone (Zona Sul) which is commercial and tourist friendly; the residential North Zone (Zona Norte); and the West Zone (Zona Oeste) including the Barra da Tijuca district.

After the discovery of the Campos Basin, which produces the majority of total oil production, some of the largest companies in Brazil made Centro their headquarters, including Brazillian companies such as Petrobras,  Eletrobras and Vale as well as branches of Shell, EBS and Esso.  Large multi-nationals such as Coca-Cola, Praxair, BHP Billiton, IBM and Shell are also located in the Centro area. 

Central Resources do Brasil Producão de Petróleo Ltda., (“Central Brasil”) operates and owns the rights to a majority of production from two important onshore fields in the Potiguar Basin, the Redonda and the Ponta do Mel Fields, discovered in 1984 and 1987, respectively.   The Potiguar Basin is the second largest producing basin in Brazil.  The potential exists for increasing production and obtaining significant volumes of additional secondary reserves by infill development drilling associated with full field waterflood programs.    Central’s approximate net daily production is 800 BOE.  Central is currently in Phase II of their development programs in both Redonda and Ponta do Mel Fields.