Petrobras finds new oil/gas reserves
Brazilian Petrobras has discovered new oil and natural gas reserves in the state of Espirito Santo, estimated at 2.3 million barrels of oil and 590 million cubic meters of gas. Daily production is estimated at 490 bpd of and 100,000 cmpd of gas, Petrobras said.The new reserves are located 30 km (18.75 miles) Northeast of the city of Linhares. Petrobras has also found signs of natural gas in the southern Brazilian state of Parana and is carrying out the final tests to determine the economic viability of the reserves. Tests at 3,441 meters (10,323 feet) revealed potential gas reserves of 87,000 cmpd. The gas field is located in Pitanga, 300 km (187.5 miles) from Curitiba.