Petrobras Discovers Another Large Oil Field in Southern Brazil

BEIJING--April 29, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil) recently announced that it has discovered a mega-oil and natural-gas reserve in the country's southern Santos Basin. The reserve, named Carioca, is close to the other two large oil fields discovered in recent months. Director Haroldo Lima of Brazil's National Petroleum, Natural Gas and Biofuels Agency said Carioca's reserves are estimated at 33 billion barrels of oil equivalent (petroleum and petroleum gases).