Brazil's state-run oil company Petroleo Brasileiro S.A. completed drilling of the first extension well in themassive Libra field off the coast of Rio de Janeiro, confirminggood quality oil, according to a filing on Monday.
Petrobras, as the company is known, said the well reached adepth of 5,734 meters and is located 4 km from the originaldiscovery well. The oil density was confirmed at 27 degrees onthe American Petroleum Institute scale and drilling found acolumn of hydrocarbons 290 meters (950 feet)in depth in a porousand permeable substratum.
Petrobras is the operator in the field with 40 percentstake, along with partners Royal-Dutch Shell and France's Totaleach with 20 percent. China National Petroleum Corp and CNOOCLtd hold 10 percent stakes each.
