June 3 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-controlled oil company, said the Tiziu oil field in the Potiguar Basin can be developed commercially.

Tiziu is located in the BT-POT-8 block, according to a posting on the website of Brazil’s National Petroleum Agency, ANP. Petrobras, as the Rio de Janeiro-based company is known, owns 100 percent of the block.

To contact the reporter on this story: Laura Price in London at lprice3@bloomberg.net

To contact the editor responsible for this story: Alan Purkiss at apurkiss@bloomberg.net