(Bloomberg) -- Petrobras, the state-run oil company in Brazil, announced Tuesday it has made another discovery in what is proving to be one of the country's most productive offshore regions.
The new well is in the Santos Basin, where large pockets of oil are being found under a layer of salt deep beneath the ocean floor.
Located 144 miles off the coast of Sao Paulo state, the new well is more than 18,000 feet deep and holds "good quality" oil, Petrobras said. The well is in a region of the South Atlantic where seven of Brazil's 18 oil discoveries this year have been made. The well has still to be declared commercially viable.
"The well is still being drilled, with the aim of determining the lower limit of the reservoirs and identifying other possible zones of interest," said the company in a statement.
The U.S. Geological Survey assesses there could be as much as 100 billion barrels of offshore oil yet to be discovered in Brazil. The Santos Basin could hold as much as 46 billion barrels.
MRC
(hydrocarbonprocessing) -- A federal prosecutor in Brazil will file criminal charges Wednesday against executives from US oil major Chevron and drilling-rig operator Transocean, charging the employees with environmental crimes related to an offshore spill in November. A federal judge will decide whether to bring the charges to trial.
A federal prosecutor in Brazil will file criminal charges Wednesday against executives from US oil major Chevron and drilling-rig operator Transocean, charging the employees with environmental crimes related to an offshore oil spill in November.
The prosecutor, Eduardo Santos de Oliveira, said in a telephone interview Monday that after an extensive investigation "there exists information and evidence that criminal conduct occurred" by employees at the two companies before, during and after the November drilling accident that caused an estimated 2,400 to 3,000 bbl of oil to seep from the seabed at Chevron's Frade field.
Transocean was operating the rig responsible for the well where the accident took place.
Some 12 Chevron and five Transocean employees will be charged with environmental crimes that carry potential prison terms of between two and five years, Oliveira said.
A federal judge will then decide whether to bring the charges to trial.
MRC