Brazilian oil company announces discovery

14:01, March 25, 2010      

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Brazilian private oil company OGX on Wednesday announced a new discovery off the country's southeastern coast.

Traces of hydrocarbons were found during the drilling of a well nicknamed Fuji in the Campos Basin, some 82 km off the coast of Rio de Janeiro state, said the company. The water depth in the area is of approximately 125 meters.

OGX, the largest private oil company in Brazil, said the drilling of the Fuji well is in its final stage and is expected to reach a final depth of 3,600 meters.

It was OGX's third oil discovery announced this month.

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