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Brazil Property News: Petrobras strike again
19th June 2008 04:36
Brazil's state-owned oil giant has discovered another new light oil field in waters of the Santos basin, it has been reported.
Petrobras struck oil in pre salt reservoirs at a depth of almost 5,000 metres 310km off the coast of Sao Paulo, according to Mercopress.
Those looking at property for sale in Brazil could be interested to hear that the country's state oil firm has struck another field which hints at an economic buoyancy in the nation.
A company statement said: "The Consortium will proceed with the required activities and make the investments that are needed to verify both the field's dimensions and the characteristics of the oil reservoirs."
It was reported by Reuters earlier in the month that Petrobras was seeking to tap into a new basin off the country's north-eastern coast.
The firm revealed the Jequitinhonha basin north of Santos looked promising and it is moving a drilling rig from Santos' huge Jupiter gas find to explore the area.
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