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Petrobras, Repsol YPF make large oil discovery in Brazil’s Santos basin

04/20/2009
Brazil’s state-run Petroleo Brasileiro SA and partner Repsol YPF SA filed a declaration of commercial viability with the country’s Agencia Nacional do Petroleo (ANP) for a light oil and gas discovery made on Block BM-S-7 in the Santos basin.Piracuca field lies in 200 m of water off Sao Paulo state, 200 km southeast of Santos. The partners, Petrobras 63% and Repsol YPF 37%, estimate recoverable volumes at 88.5 million cu m or “about 550 million boe.”The declaration of commercial viability is the outcome of “intense exploratory activity” carried out on this block, the partners said, adding, “With the new field, it will be possible to increase the po...
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