Rio de Janiero - Brazil's state-run energy company Petrobras has announced the discovery of a new offshore oil find. The light-oil field, referred to as Iguacu, is located in the Santos Basin in the Atlantic Ocean about 340 kilometres off the Sao Paulo coast at a depth of 2,140 metres, Petrobras said Tuesday.
The find was made in a new well in the BM-S-9, or Carioca field, that was discovered in April 2008. Petrobras did not give estimates of the field's size or volume.
The oil giant heads a consortium with Britain's BP Group and Spain's Repsol that jointly explores the field.