Petrobras Jupiter Well Confirms Subsalt Discovery

Petróleo Brasileiro SA , Brazil's state-controlled oil producer, said a fourth well drilled in the offshore Jupiter area showed the existence of a subsalt oil discovery.

In a securities filing on Wednesday, Petrobras, as the firm is commonly known, said the well is located 296 kilometers (185 miles) off the coast of Rio de Janeiro, beneath 2,183 meters of water. The area is 80 percent owned by Petrobras and 20 percent owned by Petrogal Brasil SA, a group formed by Portugal's Galp Energia SGPS SA (GLPEY) and China Petroleum and Chemical Co , known as Sinopec.

Reporting by Guillermo Parra-Bernal