Anadarko Looks for Oil in Brazil's Pre-Salt Area

Anadarko will start oil exploration of Brazil's pre-salt area, reported Valor newspaper. The company plans to begin drilling in both the BM-C-30 block in the Campos Basin and the BM-ES-24 block in the Espirito Santo Basin.

Although extracting this oil may pose a technological feat, Brazil's Petrobras has predicted that the pre-salt area offshore Brazil harbors such a vast amount of oil reserves that the country could become a major oil exporter because of it. Waters in the area reach 2,000 meters, and the oil is located below 3,000 meters of rock and sand, as well as a 2,000-meter layer of salt.

Devon Oil Corp., EnCana Corp. and SK Energy Co. of South Korea are joint venture partners in the BM-C-30 block. Petrobras and EncCana hold interest in the BM-ES-24 block.

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