GREY:HRTPF - Post by User
Post by
DrWolverineon Feb 04, 2012 12:07am
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Post# 19489563
Somebody found oil in Amazon
Somebody found oil in Amazon
TOP NEWS
UPDATE 1-Brazil's Petrobras finds light oil in Amazon
Fri, Feb 03 17:28 PM EST
* Amazon becoming key onshore oil-producing basin * Petrobras holds 100 percent stake in new block * HRT's rise due to success in Solimoes Basin SAO PAULO, Feb 3 (Reuters) - Brazil's state-controlled oil company Petrobras said on Friday it had struck good-quality light oil in the Solimoes Basin, in the state of Amazonas. The company said in a market filing that the find had the capacity to produce 1,400 barrels of light weight, 41-degree API oil a day, as well as 45,000 cubic meters of natural gas. The well is onshore. Petrobras is a 100 percent stakeholder in the SOL-T-171 concession block, in which the find occurred. It said if it confirmed commercial viability of the discovery, it would create a new oil and gas production center in the Solimoes Basin. The company now produces 53,000 barrels of oil, 11 million cubic meters of natural gas and 1,300 tonnes of liquid petroleum gas a day in the state of Amazonas. Lesser known than the massive subsalt deposits off the southeastern coast of Brazil, the onshore Solimoes Basin has turned up attractive new finds. Discoveries in the basin have been behind the rise of local onshore exploration start-up HRT in Brazil, a rarity where Petrobras still dominates the oil industry. HRT agreed in October to sell a 45 percent stake in 21 Amazon oil blocks to Anglo-Russian TNK-BP for $1 billion.
https://mobile.reuters.com/article/idUSL2E8D3GJB20120203?irpc=932