Petrobras, Brazil’s state oil company, announced a new oil discovery in the Amazon, reports Reuters.
According to the company, an exploratory well, known as Igarape Chibata 1, could produce 2,500 barrels of light crude per day. Petrobras owns full exploration and production rights to the well, which is located in the town of Tefe.
In recent years, Petrobras has expanded exploration in the Amazon region. It has three oil and gas fields nearby in the city of Coari, according to Reuters.
Other Latin American countries are also stepping up energy exploration and production in the Amazon. Fully 75 percent of the Peruvian Amazon is now open to oil and gas exploration and drilling. 200,000 sq km of land is under concession for oil and gas development in Bolivia, Colombia, Ecuador, and western Brazil.