Could new gas discovery attract commercial investment in Brazil?
Date added: 16th August, 2010 at 10:51
(view all articles from August, 2010)
Categories: Natural Resources
People considering commercial investment in Brazil may be interested to know that a new natural gas discovery in the Campos Basin has been hailed as an important development.
OGX Petroleo e Gas recently announced that it had discovered the resource in a well located in the Parnaiba basin.
The natural resource was identified in California Prospect, around 260 km off the coast of Sao Luis.
General executive officer of the firm Paulo Mendonca explained the significance of the find: "This discovery opens a new exploratory frontier in an onshore basin, the first in two decades," he said.
Controlling shareholder and chairman of OGX Eike Batista told Dow Jones Newswires the accumulation could satisfy 25 per cent of the country's daily consumption.
He went on to say the well was capable of producing approximately 15 million cubic metres of the commodity per day, while Mendonca told the information source the firm expects to discover light oil as well as gas in the area.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for commercial investment in Brazil.
Related Articles
Could commercial investment in Brazil rise on fresh oil discovery?
Date added: 28th July, 2010 at 10:21
(view all articles from July, 2010)
British oil companies look to invest in Brazil
Date added: 13th July, 2010 at 09:25
(view all articles from July, 2010)
Petrobras announces pipeline for ethanol production in Brazil
Date added: 8th July, 2010 at 09:20
(view all articles from July, 2010)