Sept. 18 (Bloomberg) -- Brazil's plans for a new state oil company to control the country's ``pre-salt'' fields include a 60-strong staff, O Estado de S. Paulo reported, citing President Luiz Inacio Lula da Silva.

The government is seeking to create ``a fund, a small company,'' rather than ``another Petrobras,'' Lula said in comments recorded for TV Brasil, according to the newspaper. Petroleo Brasileiro SA, or Petrobras, is Brazil's state- controlled oil producer.

Lula said the general functions of the new company -- selling and negotiating the price of oil -- are already defined, according to Estado.

The government may also use some of the oil in the pre-salt fields, deposits located in waters as deep as 3,000 meters (9,840 feet) and beneath as much as 7,000 meters of seabed, to increase its stake in Petrobras, Estado reported, citing the president.

To contact the reporter on this story: Jim Silver in Lisbon at jsilver@bloomberg.net.

Last Updated: September 18, 2008 05:13 EDT