Brazil finds new oil reserve in Santos Basin

Fourth Estate Cooperative Staff

Rio de Janeiro, Brazil (4E) – In what could make Brazil one of main exporters of crude oil in the world in coming years, the Latin American nation claimed to have discovered “good quality” crude oil reserve at the Florim well in its Santos basin, state-owned oil giant Petrobras reported.

The company has said that reservoirs of excellent quality in carbonate rocks have been found below the salt layer at a depth of 2,009 meters, 206 km off the south coast of Rio de Janeiro.

It further added that the company has already drilled 5,498-meters deep and would proceed a further 6,100 meters to reach the oil reserve.

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