Brazil’s state-led oil company Petrobras found “good quality” crude in a deep water field south of Rio de Janeiro, the latest in the series of large discoveries in one of the world’s most-promising offshore oil frontiers, the company said Tuesday.
The Rio de Janeiro-based company found a 295-meter (968-foot) column of hydrocarbons in a prospect known as “Franco SW” in the Santos offshore basin about 210 kilometers south of Rio de Janeiro, according to a securities filing.
Petrobras has yet to determine the full extent of the find.
Franco SW was drilled 17 kilometers to the south of Petrobras “Franco” prospect. In 2010 Petrobras said an exploratory well at Franco found an estimated 6 billion barrels of oil and natural gas equivalent.