June 9, 2011 / 11:41 PM / in 8 years

UPDATE 1-Petrobras finds oil in off-shore Espirito Santo basin

(Adds Gulf of Mexico find)

SAO PAULO, June 9 (Reuters) - Brazil’s state-owned oil company Petrobras (PETR4.SA)(PBR.N) said on Thursday that it found oil in the Cretaceo reservoir of the off-shore Espirito Santo basin.

It made the discovery in the BM-ES-23 concession located 115 km (72 miles) off the coast of Espirito Santo state, the company said in a filing to the securities regulator CVM.

Petrobras did not give the size of the deposit, which is located under 1,900 meters (6,232 feet) of water and at a total depth of 4,200 meters.

The consortium owning rights to the BM-ES-23 block is made up of the operator Petrobras, Shell Brasil Petroleo (RDSa.L) and Inpex Petroleo Santos (1605.T).

Petrobras also reported a discovery in the Gulf of Mexico in which it has a stake and that had been previously announced by Exxon Mobil (XOM.N) on Wednesday [ID:nLDE758033].

At over 700 million barrels of oil equivalent, it is billed as one of the largest finds in the Gulf of Mexico in a decade. (Reporting by Roberto Samora; Writing by Raymond Colitt; Editing by Lisa Shumaker, Gary Hill)

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