Friday, 13 August 2010

Petrobras finds oil and natural gas onshore Brazil

Petrobras has discovered signs of oil and natural gas in an onshore well in the Espirito Santo basin, Brazil. The company found hydrocarbons in the 3BRSA850ES well in the Fazenda Sao Rafael field, the well has not yet been declared commercially viable.

The news of the new discover comes shortly after the announcement that Petrobras has found evidence of natural gas in an offshore well in the Espirito Santo basin earlier this month.

The discovery was made in the 1BRSA826AESS well, in the ES-M-468 block at a water depth of 1,470 mt. Petrobras is the operator with a 75 percent stake, with the remainder 25 per cent belonging to Vale.

Source: Bloomberg Business Week

For more news and expert analysis about Brazil, please see Brazil Focus.

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