Vale Digs for Natural Gas

By Bruno De Nicola, Contributing Reporter

RIO DE JANEIRO - Brazilian Mining Giant Vale has confirmed the existence of hydrocarbon in the Vampira offshore well, in the BM-S-48 block of the Basin of Santos. The company holds 12.5% of the consortium for the concession of oil extraction, along with the responsible operator Repsol (forty per cent), state-owned Petrobras (thirty-five per cent) and Australian Woodside (12.5%).

After preliminary analyses, two samples taken at the end of July 2009 at a depth of around 4,800 meters proved the presence of light petroleum and rich gas in . . .

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