Petrobras to Expand Pre-Salt Oil Drilling to Angola in 2012
This article is for subscribers only.
Petroleo Brasileiro SA, Latin America’s largest company by market value, said it will start drilling oil in deep waters off Africa early next year on bets the area may mirror Brazilian deposits across the Atlantic.
The Brazilian state-run company will start drilling at Block-26 in the Benguela Bay off Angola’s southern coast and plans to start tapping reserves off Namibia, according to a statement sent by e-mail today. Petrobras, as the Rio de Janeiro-based company is known, operates and holds a 30 percent stake in the block.