Petrobras Hits Drilling Snag at Brazil’s Biggest-Ever Oil Find
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Petroleo Brasileiro SA redirected a well at its biggest oil discovery after encountering a pressure zone, underscoring the technical challenges facing the producer’s new management team.
The “drilling phase” of the well at the offshore Libra field hasn’t been halted because of the procedure, the Rio de Janeiro-based state-run company said in an e-mailed response to questions Tuesday. A snag caused the company to halt drilling for more than a week, two people with knowledge of the matter said earlier, asking not to be named because the matter isn’t public. Libra is expected to start commercial output in 2020.