Brazilian energy company Petrobra, formally Petroleo Brasileiro SA (NYSE: PBR) has confirmed the discovery of an accumulation of hydrocarbons in the offshore southern Campos Basin. The discovery is about 120 miles offshore in the pre-salt layer underneath about 9,200 feet of water.
The operator of the field is Repsol Sinopec, a joint venture between Spain’s Repsol YPF AS and China’s Sinopec Shanghai Petrochemical Co. Ltd. (NYSE: SHI), which owns 35% of the field. Norway’s Statoil ASA (NYSE: STO) also owns 35% of the field and Petrobras owns the remaining 30%.
Petrobras did not release an estimated size for the new discovery.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
