RIO DE JANEIRO, Jan. 27 (Chinese media) -- Brazil's state-owned oil and gas giant Petrobras announced on Monday that it has found gas in the country's southeastern coast.
The discovery was made at Block BM-S-7 in the shallow waters of the Santos Basin, off the coast of Sao Paulo state.
Petrobras said the gas was found 210 km off the coast and 214 meters under water above a salt layer.
The discovery is significant and its exploitation could be highly feasible due to its short distance below the water surface, the company said.
Block BM-S-7 is jointly explored by Petrobras and Spanish company Repsol. Petrobras holds a 63 percent stake and Repsol 37 percent.
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