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Petrobras Outspends Exxon Researching Next Oil Frontiers: Energy

On a seabed off Brazil, Petroleo Brasileiro SA is separating water from oil as it pumps the crude from beneath the Atlantic. No company had done that before.

The process, which takes the separation and reinjection mechanism off oil platforms, is the first of its kind in waters deeper than 1,000 feet and frees space so platforms can serve more wells. It was developed by state-run producer Petrobras and FMC Technologies Inc. at a research and development center that boasts 227 laboratories on an island off Rio de Janeiro.