Brazilian oil firm ‘hopeful’ for more discoveries
Brazilian state-owned oil firm Petrobras has said this week that it is hopeful that it will make more oil discoveries in the near future.
Its chief officer, Almir Barbassa, claimed that the company has good reason to believe that there is still more oil to be found in its presalt oil fields, according to Dow Jones Newswires.
Mr Barbassa said: "We have every reason to believe that we will still announce great discoveries in that area. Our expectation is very positive."
In November last year Petrobras confirmed that it had found up to eight billion barrels of oil off the coast of Rio de Janeiro in its ultra-deep Tupi field.
Shortly after this, in January 2008 the firm announced that it had discovered a massive gas field nearby.
The discovery of another oil field in the Latin American nation could be good news for those considering buying property in Brazil as many analysts say it has bolstered its economy.
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