Processing Magazine

Petrobras Finds New Oil Frontier

October 27, 2010
In a press release, Petroleo Brasileiro SA, Brazil’s state-controlled oil company, said it opened a “new exploration frontier” off the country’s northern coast after finding signs of light oil at a deepwater well. Petrobras found “large accumulations” of oil in its Barra well in the Sergipe-Alagoas Basin, the Rio de Janeiro-based company said in a regulatory filing today. The discovery at a depth of 2,341 meters of water has larger volumes of oil than the Guaricema and Dourado fields in shallower waters of the same basin, Petrobras said.

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