Petrobras announces large oil find
Brazil’s state-owned oil firm has finished drilling at a site in the Santos Basin and has confirmed it has found large reserves of oil at a depth of 5,800 metres, it has been reported.
The news could interest those considering Brazilian property as it suggests the nation is enjoying a period of economic resilience.
Petrobras announced last week it had discovered the oil and gas reserves in the well, known as Jupiter, off the coast of Rio de Janeiro, according to the Brazil Arab News Agency.
The firm is cited by the news agency as saying in a statement that it had sent samples of the finds off for testing at the Petrobras Research Centre.
It added: "The drilling of the well, which had been interrupted in January for operational reasons, was deepened and showed the continuation of the natural gas and light oil reserves, with high levels of carbon dioxide."
Petrobras has founded in 1953 and has its headquarters in Rio de Janeiro.
