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Natural gas and oil offshore Brazil

Natural gas and oil offshore Brazil
Repsol YPF has discovered oil and natural gas at well 1-REPF-4-SPS on Block S-M-789 in the Santos Basin offshore Brazil.

Repsol YPF has discovered oil and natural gas at well 1-REPF-4-SPS on Block S-M-789 in the Santos Basin offshore Brazil.

Repsol YPF has discovered oil and natural gas at well 1-REPF-4-SPS on Block S-M-789 in the Santos Basin offshore Brazil. Transocean semisubmersible Ocean Explorer drilled the well, which is in around 459 feet (140 m) of water. As required by Brazilian law, the find was reported to Agencia Nacional do Petroleo e Biocombustiveis (ANP) on July 27. Repsol is the operator of the block and has been since 2006.

Repsol has a 40 percent stake, while Brazil's federal energy company Petrobras (NYSE: PBR) has 35 percent, and Brazilian iron ore miner Vale (NYSE: RIO) and Australia's Woodside Petroleum each own 12.5 percent.

www.TurkishMaritime.com.tr

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