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Petrobras bets on the Equatorial Margin as a new oil horizon

RIO DE JANEIRO, BRAZIL - The Brazilian oil company Petrobras will invest 1 billion dollars in the next few years in the drilling of eight exploratory wells in its concessions in the so-called Equatorial Margin in the hope of discovering a new and promising oil horizon, its leaders said Thursday.

"We have planned in our Business Plan to invest up to $2.025 billion to drill up to eight wells in that region, but we still don't have all the environmental licenses," said Petrobras Exploration and Exploitation director Fernando Borges at a press conference.

The Equatorial Margin comprises the . . .

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