Petrobras Finds More Oil at Libra
Thursday 18 February 2016
Brazil's state-led oil company Petroleo Brasileiro SA said on Wednesday that it and its partners found more oil in the Libra prospect in a well that helps confirm the extent of the giant offshore area.
The well in the northeast section of the Libra area found a 270-meter column of oil-bearing rock that has high levels of connection with other wells drilled in the prospect and medium grade crude at 28 degrees in the American Petroleum Institute (API) scale, Petrobras as the company is known, said in a statement.
Libra is 40 percent owned by Petrobras, which is also the operator, 20 percent owned by Royal Dutch Shell Plc, 20 percent by France's Total SA and 10 percent each for Chinese companies CNOOC and China National Petroleum Corp.
Source: Reuters (Reporting by Jeb Blount; Editing by David Gregorio)