U.S. supermajor Chevron Corp. will not leave Brazil and is working to restart its projects in the South American country, where a court had given the energy company until the end of August to halt its operations, Chevron's chief of Latin American operations, Don Stelling, said.
The San Ramon, California-based oil company has three projects in Brazil, Stelling said at an oil industry conference on Wednesday.
Chevron does not plan to change its strategy and will continue moving forward, Stelling said, adding that the company would work "project by project."
On Aug. 1, a Brazilian court gave Chevron and drilling contractor Transocean 30 days to halt oil drilling and transportation operations because of the oil spill last year at the Frade field.
The two companies are the subjects of legal proceedings over a spill of 3,700 barrels of crude last November off the coast of Rio de Janeiro state.
Chevron sealed and abandoned the well last November, but it continued offshore operations until March, when it announced a voluntary halt to all activities in the area following another smaller spill.
The National Petroleum Agency, or ANP, found that Chevron was 96 percent responsible for the spill.
Some 3,700 barrels of crude leaked from the Frade field, located 120 kilometers (75 miles) off the coast of Rio de Janeiro state, the ANP said.
The San Ramon, California-based multinational is the operator of the field with a 51.74 percent stake, while Petrobras and Japan's Frade Japao Petroleo have 30 percent and 18.26 percent interests, respectively.
Frade lies in the Campos basin, where nearly 90 percent of Brazil's oil and gas is produced.
Last month, state-controlled oil giant Petrobras said it would provide Chevron and Transocean with assistance from its legal department to help the companies continue to operate in Brazil. EFE