Reuters logo
UPDATE 1-Petrobras makes two oil finds in Campos Basin
February 25, 2010 / 2:45 PM / 8 years ago

UPDATE 1-Petrobras makes two oil finds in Campos Basin

* Two finds have 65 mln barrels recoverable reserves

* Deeper of the two finds lies in subsalt layer (Adds details)

SAO PAULO, Feb 25 (Reuters) - State-controlled energy firm Petrobras (PETR4.SA)(PBR.N) said on Thursday it had made two separate discoveries of oil in the Campos Basin near Brazil’s coast with recoverable reserves of 40 million and 25 million barrels.

The two discoveries were made in the same well, 6-BR-63A-RJS, but the larger reserves were “subsalt” oil, which lies below the first find in a deep layer of salt rock a few kilometers (miles) under the ocean floor.

Petrobras is studying the idea of extracting oil from the well using the P-43 platform already installed near the well’s location, about 100 kilometers (63 miles) from the coast of Rio de Janeiro.

Brazil’s oil output is expected to rise significantly over the next decade, mainly due to the discovery of the potentially huge subsalt reserves, which analysts have estimated could contain somewhere between 50 billion and 80 billion barrels of crude.

News of offshore discoveries is now a weekly occurrence as firms like Petrobras and OGX, owned by Brazilian billionaire Eike Batista, progress with exploration of offshore blocs. (Reporting by Peter Murphy; Editing by Walter Bagley)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below