Brazilian firm makes deepwater oil find

August 27th, 2012 - 11:18 am ICT by IANS  

Rio de Janeiro, Aug 27 (IANS/EFE) Oil and gas have been found in a deepwater basin in the Atlantic, Brazilian state-controlled oil giant Petrobras said.

Tests confirmed the presence of petroleum and “good quality” gas at the Moita Bonita well, which is at a depth of 2,775 meters.

The well is about 85 km off the coast of Aracaju, the capital of Alagoas state, Petrobras said in a statement posted on its web site.

The Moita Bonita well is in block BM-SeAl-10, which Petrobras is operating without the participation of foreign oil companies.

“The company plans to continue studies in the area, including an analysis of rock and fluid data obtained at the well, with the goal of filing the Discovery Evaluation Plan” required by the National Petroleum, Natural Gas and Biofuels Agency, or ANP, the company said.

Petrobras, Brazil’s largest corporation, is one of the world’s fastest-growing oil companies.

–IANS/EFE
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