Petrobras announces new subsalt find in Santos Basin

SAO PAULO Wed Feb 20, 2013 7:56am EST

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SAO PAULO Feb 20 (Reuters) - Brazil's state-led oil company Petrobras said on Wednesday it had made a new discovery of "good quality" oil in an area ceded by the government late in 2010, according to a securities filing.

The discovery in a part of the Santos Basin known as Florim contained oil registering 29 degrees on the American Petroleum Institute scale, directly beneath a deap-sea salt bed. Petrobras got access to the block in October 2010 by paying for the right to explore as many as 5 billion barrels of subsalt oil.

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