December 14, 2000 (BNamericas.com) - Brazilian pension fund Petros will invest R$600mn (US$306mn) in the development of offshore oil field Albacora in Campos basin off Rio de Janeiro state"s coast, local press reported. Petros, which administrates pension funds for employees of state oil company Petrobras, signed a 10-year contract with Petrobras in which Petros will have a 15% stake in the R$4bn (US$2.04bn) project. Albacora was discovered in 1984 and is the second largest oil field in Brazil, with 397 million barrels in reserves. The field began production in 1996 and its current output is 150,000 barrels per day, 11% of the country"s production. Business News Americas (BNamericas.com)