Brazil’s Petrobras eyes Angola’s pre-salt oil

11 November 2009

Luanda, Angola, 11 Nov – Brazilian state-owned oil company Petrobras is interested in developing oil exploration projects in Angola’s deepwater and ultra-deepwater offshore fields, known as pre-salt, Brazil’s minister of development, industry and foreign trade, Miguel Jorge, said Tuesday in Luanda.

Angola’s offshore seabed has similar geology to that of Brazil, where around 8 billion barrels of pre-salt oil were discovered in 2007 in the Tupi field.

“A Petrobras director was received by the Angolan Economy Minster who was informed that the company, which is already present in Angola, is very interested in carrying out drillings in the area we classify as pre-salt, deepwater and ultra-deepwater,” said Manuel Jorge.

The minister added that Brazil, one of the world’s biggest biofuels producers, is working with Angola and other African states to produce sugar and ethanol with the aim of aiding development of agriculture sectors that have already experienced times of great prosperity. (macauhub)