Brazil's state-run oil giant Petrobras said on Friday it found "good quality" crude in an ultra-deep water block in the Sergipe-Alagoas basin, its latest in a string of discoveries in one of the world's most active offshore oil frontiers. The Rio de Janeiro-based company said it found a 300-meter (984 foot) column of hydrocarbons with 52 meters of netpay of oil and gas in porous sand-stone structures after drilling in a well known as 1-BRSA-1088-SES or "Moita Bonita."
The well is located 35 Km (20 miles) south-east of company's "Barra" prospect. Petrobras and partner IBV Brasil completed drilling a well earlier this week that confirms the extent of the "Barra" prospect.