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By Jewellord T. Nem Singh, Contributing Reporter

RIO DE JANEIRO - Petrobrás announced the discovery of new oil deposits on June 23rd in the offshore Albacora Leste field in the Campos Basin, Rio de Janeiro. Located 130 kilometers off the coast at a depth of 1,956 meters, the exploration of this "pre-salt" reservoir is operated through a ninety-ten percent joint venture between state-owned Brazilian Petrobrás and Spanish giant Repsol.

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