Foz do Amazonas Discovery Yields High-Quality Oil for Petrobras

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Brazilian state-run oil company Petrobras' analysis of oil discovered at the Morpho exploration well in the offshore Foz do Amazonas basin showed it to be "very high quality" crude, an executive told Reuters on Monday.

The crude found at the well could prove superior to oil produced from Brazil's prolific pre-salt fields, Petrobras' director of engineering, technology and innovation, Renata Baruzzi, said on the sidelines of an event in Rio de Janeiro.

Baruzzi added that Petrobras expects an exploration campaign at nearby wells to begin next year. The area is part of Brazil's Equatorial Margin, which the company considers its most promising exploration frontier.

(Reuters - Reporting by Rodrigo Viga Gaier; Writing by Isabel Teles; Editing by Gabriel Araujo)