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Petrobras Finds Oil, Gas in Espirito Santo Basin
Wednesday, July 23, 2008
Petroleo Brasileiro SA, found traces of oil and gas in an offshore well in the Espirito Santo Basin.
Petrobras, as the Rio de Janeiro-based company is known, registered signs of oil and gas in the offshore PER block, according to Brazil's National Petroleum Agency. Petrobras also found more oil in a second onshore well in the ES- T-364 block in Espirito Santo state.
Petrobras has not determined if the wells can be developed economically.
Source: Bloomberg
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