the new find if its viable to drill, could make brazil the worlds largest oil export in 10 years.
The discovery in the so-called "pre-salt cluster" was in water 7,294 feet deep and in a well expected to have a final depth of 16,414 feet, announced Brazil’s National Petroleum Agency.
The companies haven’t determined if the find can be developed commercially.The so-called Azulao-1 well in the BM-S-22 block operated by Exxon Mobil is adjacent to the Carioca field, where Petrobras, the Brazilian state-controlled oil company, has found oil.
It is also about 25 miles south of Tupi, a field that Petrobras says holds as much as 8 billion barrels of oil, making it the biggest discovery in the Americas since 1976."The drilling of this well will continue until the targeted depth is reached.
We are keeping with plans to drill another well after that", Exxon Exploracao Santos Brasileira, the Exxon unit, said in a statement.The so-called subsalt wells extend over a distance of 800 kilometres along the southern Brazilian coast in ultra-deep waters.