1. Skip to navigation
  2. Skip to content
  3. Skip to secondary content



Latino Daily News

Saturday August 4, 2012

Petrobras Discovers New Oil Deposit in Brazil

Petrobras Discovers New Oil Deposit in Brazil

Photo: Petrobras in Brazil

Click Here to Enlarge Photo

Brazilian state-controlled oil company Petrobras has announced the discovery of a new oil accumulation at a deep-water well off the country’s northeast coast.

Petrobras said in a statement Thursday that the deposit was found at the Pecem well - located 76 kilometers (47 miles) off the coast of Paracuru, in Ceara state - at a water depth of 2,129 meters (6,980 feet).

The well is being drilled by a consortium made up of Petrobras, which holds a 60 percent stake in the BM-CE-2 concession in the Ceara basin, and BP Energia Brasil, a unit of Britain’s BP.

“The consortium will continue to drill the well to the planned depth, verify the extension of the new discovery and characterize the conditions of the discovered reserves,” Petrobras said.