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Petrobras strikes oil in Espírito Santo basin

Offshore

Offshore staff

RIO DE JANEIRO -- Petrobras has made an oil discovery (27º API) in the Espírito Santo basin.

The new discovery (4-GLF-23-ESS) is in 1,374 m (4,508 ft) of water. The company's first estimates indicate a potential of 150 MMbbl of recoverable oil.

Petrobras says the discovery opens new exploratory perspectives for the area and has the advantage of being located near infrastructure that is already installed in the Golfinho field. As a result, the volumes that were discovered will be incorporated to the company's reserves and may go into production in a short period of time.

07/15/2008