Bloomberg News

Galp, Petrobras Find Evidence of Oil at Onshore Potiguar Well

January 04, 2012

Jan. 4 (Bloomberg) -- Galp Energia SGPS SA, Portugal’s biggest oil company, and Petroleo Brasileiro SA found evidence of oil in an onshore well in Brazil’s Potiguar basin.

The discovery was made at well 1GALP40RN in the POT-T-563 block, the National Petroleum Agency said on its website. The companies haven’t determined whether the discovery can be developed commercially. Lisbon-based Galp and Petrobras, based in Rio de Janeiro, each own 50 percent of the concession.

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net


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