Brazil’s Pre-Salt Extraction Costs Fall To $8 Per Barrel

14 Aug 2017   Brazil

Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed down by allegations of involvement in Brazil’s widespread corruption. But that’s all changing. Despite being a subject of the massive Lava Jato investigation, in which executives are accused of accepting bribes in exchange for contracting construction firms at inflated rates, things are turning around for Petrobras. Now, thanks to new management and their recently-discovered pre-salt wells, Brazil is the comeback story of the year. Discovered only 10 years ago , Brazil’s pre-salt area has rapidly become the biggest oil-producing area in the country. Just this week Petrobras discovered commercial oil in a whole new pre-salt area known as the Marlim Sul Field in the Campos Basin, located about 71 miles off the shore of Rio de Janeiro. Because pre-salt […]

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