SAO PAULO Ė State-controlled oil company Petrobras on Wednesday announced a new light oil find in ultra-deep waters off Brazilís northeastern coast.
The crude accumulation was discovered at a spot 85 kilometers (53 miles) off the coast of the city of Aracaju, capital of Sergipe state, at a depth of 2,583 meters (8,470 feet), Petrobras said in a statement.
The find was the fourth the company has announced thus far this year in that region.
Petrobras said it will continue conducting studies prior to presenting a plan for developing the deposit to the National Petroleum Agency, which regulates the oil sector. EFE