Brazil’s Petrobras Finds Oil Off Coast of the US

Petrobras rig on Gulf of Mexico Brazilian oil company Petrobras announced the discovery of oil and gas in ultra-deep waters in the Central Gulf of Mexico, in the United States.

The discovery was made via the Stones number 3 well, operated by Shell.  Petrobras America Inc., a Petrobras subsidiary in the US, had been developing work in the Walker Ridge Quadrant when it found the reserves.

According to the Brazilian government controlled oil multinational, Shell has 35% participation in the consortium, Petrobras – through subsidiary Petrobras America – has participation of 25%. The other partners are Marathon and Italian oil company ENI, with 25% and 15%, respectively.

According to Petrobras, this result confirms the potential of significant oil reserves in this type of reservoir in the Gulf of Mexico, where the company operates the Cascade and Chinook fields, which, at the present moment, are in the production development and facility construction phase.

In the press statement, the company also informs that it has 25% participation in Saint Malo field, in the same area. This field is operated by Chevron and is in the exploratory drilling phase for assessment and extension, and of studies for selection of the production development project.

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