Petrobras says makes discovery of high-quality oil
SAO PAULO: Brazil's state-controlled oil company Petrobras has made a discovery of high quality offshore oil in the Sul de Guara region of the hydrocarbon-rich Santos Basin, it said in a statement on Friday.
The company said that under its concession contract, it is authorized to produce 319 million barrels of oil equivalent in the area where the discovery was made.
The well, 1-BRSA-1045-SPS (1-SPS-96) is in the southern portion of the Sapinhoa field where the seawater depth is 2.2 kilometers (1.4 miles) and 320 km from the coast of Sao Paulo state. The oil is part of so-called subsalt reserves which lie several miles under the seabed under a thick layer of salt rock.
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