China National Petroleum announces major oil and gas discovery in Brazil

China National Petroleum Corp announced a significant oil and gas discovery in a pioneer well in the Aram block in Brazil.

The discovery, declared together with Brazilian oil and gas giant Petrobras is located 240 kilometers from the city of Santos in Brazil, at a depth of 1,905 meters in the Aram Block.

It will allow evaluating the potential and directing the following exploratory activities in the area, said the company.

The two parties will continue operations to drill the well to the expected depth and verify the extent of the discovery, in addition to characterizing the conditions of the reservoirs found, it said.

CNPC entered Brazil’s deep-water oil and gas market in 2013 by winning the bid for the Libra project.

CNPC operates three ultra-deep sea JV projects, the Libra project, the Buzios project, and the Aram risk exploration block, with business in the country covering deep-sea oil exploration, production and marketing, and marine engineering services.