Brazil Steps Up Bid To Boost Domestic Oil Industry
From Google News
Brazil on Monday unveiled a package of incentives and subsidies to try to develop the homegrown technology needed to explore the country”s huge offshore oil reserves.
The government hopes to tap the so-called “pre-salt” reserves off the southeast Atlantic coast, buried beneath several kilometers of ocean, bedrock and hot salt beds — beyond the reach of local technology.
“Very little of the work in the pre-salt is done by Petrobras and our partner companies,” Graca Foster, head of the state-owned firm, said at an signing ceremony at her company”s headquarters.
