Petrobras confirms Pitu oil discovery

Petroleo Brasileiro SA (Petrobras) has confirmed the presence of oil in the Pitu area of the Potiguar basin after drilling the Pitu North 1 extension well, the first such well drilled in the area.

The discovery was first reported in December 2013. Pitu North 1, also known as 3-BRSA-1317-RNS, 60 km offshore Rio Grande do Norte state, was drilled to a total depth of 4,200 m in 1,844 m of water.

The company says the find was proved by analyzing profiles and fluid samples that will be further analyzed in a laboratory.

Petrobras is operator of the BM-POT-17 concession with 40% interest. Partners are BP PLC 40% and Petrogal SA 20%.

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