Under water.

Position:PANORAMA - Brief Article
 
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Like all major oil companies, Brazilian state-run oil company Petrobras is scrambling to find new reserves while petroleum prices are sky high, deep water or not. Petrobras and Statoil, a Norwegian oil company, invested US$180 million to explore for oil in Nigeria. Exploration will take place in deep water off the Nigerian coast. Both companies will take a 45% stake in the project, with Nigerian oil company Ask Petroleum System controlling the...

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