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Petrobras announces oil discovery off Brazilian coast

(Xinhua)

08:53, March 21, 2012

RIO DE JANEIRO, March 20 (Xinhua) -- Brazil's state-controlled oil and gas giant Petrobras announced Tuesday the discovery of good-quality oil off the country's southeastern coast.

The new oil accumulation was discovered in ultra deep waters in the pre-salt of the Santos Basin, during the drilling of well 4-SPS-86B (4-BRSA-971-SPS), known as Carcara, located in block BM-S-8.

The well is 232 km off the coast of the Sao Paulo state. According to Petrobras, sampling confirmed the presence of oil in reservoirs at a depth of 5,750 meters.

The well is still being drilled, Petrobras said, in order to determine the lower limit of the reservoirs and identify other possible zones of interest.

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