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Brazil's Petrobras says second well on Libra field hits oil

Reuters - UK Focus

RIO DE JANEIRO, March 24 (Reuters) - Brazil's state-run oil company Petrobras said on Tuesday the consortium responsible for the giant offshore Libra field had found good quality oil after drilling its second well.

The C1 well confirmed a column of hydrocarbons of approximately 200 meters in the central block of Libra which is located in the Santos Basin, about 220 kilometers off the coast of Rio de Janeiro.

The consortium consists of Petrobras with a 40 percent stake, Royal Dutch Shell (Xetra: R6C1.DE - news) and Total SA (Paris: FR0000120271 - news) both with 20 percent, and China's National Petroleum Corp and CNOOC (HKSE: 0883.HK - news) with 10 percent each. (Reporting by Stephen Eisenhammer; Editing by Chris Reese)