Petrobras makes significant Brazil oil find: partner

RIO DE JANEIRO Mon Aug 13, 2012 8:24pm EDT

RIO DE JANEIRO (Reuters) - Brazil's state-led Petrobras has made "one of the most significant oil discoveries" in the country's offshore sub-salt play, Joao Carlos de Luca, the chief executive of Barra Energia, a partner in the discovery, told Reuters on Monday.

Petrobras, which operates the BM-S-8 block south of Rio de Janeiro in the Santos Basin, said in a securities filing that the group's Caracará prospect has shown 400 meters of continuous and connected oil reserves with excellent porosity and permeability.

The oil is of a light grade at 31 degrees on the American Petroleum Institute (API) scale. Other partners in the discovery are Portugal's Galp Energia SGPS and Brazil's Queiroz Galvao Exploracao e Producao SA.

(Reporting by Sabrina Lorenzi and Jeb Blount; Editing by Ed Davies)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.