Petrobras has not hit bottom on Carcara

Formigli remarks: Carcara potential still being evaluated

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By Staff and News Wires

 15 August 2012 19:38 GMT

Petrobras has not yet found the bottom of a giant column of oil in its offshore Carcara subsalt prospect, Jose Formigli, head of exploration and production at the Brazilian state-led oil company, said on Wednesday.

Petrobras has already found a 400-metre (1312-foot) column of oil in the prospect, which it operates on behalf of Portugal's Galp Energia SGPS and Brazil's Barra Energia and Queiroz Galvao Petroleo e Gas, Reuters reported.

The size of the column led Joao Carlos de Luca, chief executive of Barra, to call it "one of the most significant oil discoveries" in the country's history.

Others say the column suggests the discovery could be on the order of the Lula-Cernambi complex, an 8.3 billion-barrel area found in 2007 that was the biggest discovery in the…

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