brazil\s petrobras announces new oil find
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Brazil's Petrobras announces new oil find

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Arab Today, arab today Brazil's Petrobras announces new oil find

Rio De Janeiro - AFP

Brazil's oil giant Petrobras announced a new crude find Friday off the country's northeastern coast. "It's a nice find," the state-run company's president Graca Foster told reporters. Foster did not provide detailed production estimates, saying only that the discovery was "relevant." The find was located in the Sergipe-Alagoas Basin about 100 kilometers (62 miles) from the coast, Foster added in comments cited by the G1 news website. Last year, Petrobras produced an average of 1.98 million barrels per day, a figure it hopes to double by 2020.

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