Petrobras Discovers Natural Gas Near Auction Areas
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Petroleo Brasileiro SA, Brazil’s state-controlled oil company, discovered natural gas in an onshore field near an area where Brazil plans to auction exploration licenses later this year.
The gas discovery at the Ilha Pequena block in the Sergipe Basin hasn’t been declared commercial yet, the National Petroleum Agency said on its website. Petrobras also found oil at an offshore well in the Campos Basin, where the company produces more than 85 percent of its oil, the agency said.