State-owned Bharat Petroleum Corporation and private sector Videocon Industries announced a significant crude oil discovery off the Brazil’s northeast coast on Tuesday, in separate filings with stock exchanges.
The well was drilled to appraise the ‘Farfan’ discovery made in August 2013. Brazilian state-run oil company Petrobras, which is the operator of the block, expects to start producing oil in the area in 2018.
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