Petrobras looks up north
People considering buying property in Brazil could be interested to hear the country’s state-run oil giant is seeking to tap into a new basin off the country’s north-eastern coast, it has been reported.
The country’s oil industry is booming – which hints at an economic buoyancy in the nation – after a number of finds on its south coast but discoveries in the north are rare.
Petrobras revealed the Jequitinhonha basin north of Santos looks promising and it will move a drilling rig from Santos’ huge Jupiter gas find, according to Reuters.
Guilherme Estrelle, the firm’s exploration and production director, told the news provider’s Global Energy Summit on Monday: "We always need to open new frontiers and the geological data in the BMJ-3 block looks very interesting.
"We have a great deal of hope there … the prospects are very good," he added.
It was reported by ANBA earlier in the week that the firm plans to build another refinery in the country.
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