Brazil’s state-controlled oil producer Petroleo Brasileiro SA confirmed the presence of high quality oil on Dec. 22 after drilling a new well at Buzios, the country’s second-most productive field.
In a filing on Dec. 22, Petrobras, as the company is known, said the results of deepwater well 9-BUZ-48D-RJS confirm even greater potential for Buzios, which currently produces more than 600,000 barrels of oil per day.
Buzios is located 188 km off Rio de Janeiro’s coast. The field is operated by Petrobras (90%) in a partnership with Chinese producers CNOOC (5%) and CNPC (5%).
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