Petrobras and ExxonMobil Strike Oil in Campos

Petrobras (NYSE: PBR) on Friday reported a new discovery in the pre-salt Campos Basin offshore Brazil.

Located in the CM-411 block, Well 1-BRSA-1377-RJS – also called Urissanê – sits approximately 124 miles (200 kilometers) off the coast of Rio de Janeiro state at a water depth of 9,678 feet (2,950 meters), Petrobras noted in a written statement. Petrobras and ExxonMobil Exploraҫão Brasil Ltda. (NYSE: XOM) each own a 50-percent interest in the Petrobras-operated block.

Petrobras pointed out that well data from Urissanê, which encountered oil in the pre-salt section, will undergo analysis to better target exploratory activities in the area and assess the discovery’s potential. The company did not identify which rig drilled the well.

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