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Petrobras: Volumes at Santos Basin Sub-Salt Find Still Unknown

Brazil’s state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, said it’s still not possible to evaluate what volume of oil is contained in an ultra deep Santos Basin field discovered last October.

“Until the conclusion of evaluation tests, it’s impossible to determine the quantity of oil in the discovery,” Petrobras said in a statement to Brazil’s stock market commission.

Production tests showed the existence of a “significant volume” of 30 degrees API crude in the 1-RJS-628 exploration well in the BM-S-11 exploration block, Petrobras had said in October.

The find lies at a water depth of 2,140 meters. The deposit is considered a new frontier as it lies under a 2,000-meter-thick salt layer that itself lies under 3,000 to 4,000 meters of sand and rocks below the seabed.

Dow Jones Newswires

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