Oil & Gas - Brazil

Petrobras finds signs of oil, gas in Potiguar basin

Petrobras finds signs of oil, gas in Potiguar basin

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Brazil's federal energy company Petrobras (NYSE: PBR) has discovered signs of oil and gas in an offshore well in the Potiguar basin, oil and gas regulator ANP reported.

The discovery was made in 41.5m of water in block BM-POT-11 in well 1BRSA710RNS. Petrobras is drilling with the Petrobras V rig to a final depth of 3,515m, according to a separate ANP filing.

Petrobras holds a 100% stake in the block.

The Brazilian company has not yet declared commerciality at the well.