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Petrobras discovers new Brazilian reserve of light oil, natural gas

Petrobras discovers new Brazilian reserve of light oil, natural gas

Brazil's state-owned oil company has discovered a new reserve of light oil and natural gas in deep water about 280 kilometers (175 miles) off the coast of Rio de Janeiro, Petrobras said Wednesday.
The reserve, described as "significant," is capable of producing about 4,900 barrels of oil and 150,000 cubic meters of natural gas daily, said the company. The discovery was made in an area of the Santos Basin that Petrobras called a "new frontier" for exploration.
Petrobras will extract oil and natural gas from the bloc in a consortium that also includes Britain's BG Group PLC and the Petrogal division of Galp Energia, Portugal's biggest oil and gas firm.
Additional investment will be necessary to exploit the bloc, but Petrobras did not say how much.


Updated : 2021-06-23 11:03 GMT+08:00