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Exxon finds oil in Brazil sub-salt well in Santos

  US oil giant Exxon Mobil Corp said on Wednesday it found oil in a subsalt well in Brazil’s Santos basin.

 

The so-called Azulao-1 well in the BM-S-22 block is in the same cluster where Brazil’s state-run energy company Petrobras made huge oil finds recently. “The drilling of this well will continue until the targeted depth is reached. We are keeping with plans to drill another well after that,” Exxon Exploracao Santos Brasileira, the Exxon unit, said in a statement.

Exxon wouldn’t comment on the potential size of the well. It is near the Carioca, Tupi, Jupiter and Iara blocks where Petrobras found billions of barrels of oil recently.

The so-called subsalt wells extend over a distance of 800 kilometers (500 miles) in ultra-deep waters off Brazil’s coastline from Santa Catarina to Espirito Santo states. (Reuters)