Rio, 4/19/2006 (Agência Brasil - ABr) - Petrobras has announced a new discovery of light petroleum in the Espírito Santo basin. The estimated reserves in the new well are 280 million barrels equivalent (both petroleum and natural gas combined). Spokespersons for the company say the petroleum is of "excellent quality."

The new discovery brings estimated total reserves in the basin to around 600 million barrels. "We have drilled 17 wells in the Espirito Santo basin and 15 times we found oil," said the spokesperson.

Tanslation: Allen Bennett