Brazil's New Oil Frontier Could Keep Its Boom Alive For Decades

Source Summary

Brazilian President Luiz Inácio Lula da Silva has praised Petrobras's offshore oil discovery at the Morpho-1 well in Block FZA-M-59 near the mouth of the Amazon River, approximately 180 kilometres off the coast of Amapa state, as a "passport to the country's future". The state-run oil and gas company announced the find, with studies indicating substantial potential.