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Protest halts Petrobras New Zealand exploration
Posted on April 12, 2011
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RIO DE JANEIRO, April 11 | Mon Apr 11, 2011 7:32pm EDT
RIO DE JANEIRO, April 11 (Reuters) – Brazilian state oil company Petrobras (PETR4.SA) said on Monday seismic exploration off the coast of New Zealand was halted by environmental protesters.
The firm said in an emailed statement that protesters jumped into the water on Sunday and blocked movement of the exploration vessel.
“The company follows strict operational procedures and it cannot safely continue the study,” Petrobras said, adding it has until May of 2012 to complete the seismic study and interpret the data.
The company in 2010 received a permit to undertake seismic surveys in a block off the east coast of New Zealand’s North Island and drill an exploration well worth around $118 million over the life of the permit. (Reporting by Denise Luna, writing by Brian Ellsworth; Editing by Gary Hill)