SK Energy finds crude in oil field off coast of Brazil

By Nam Kwang-sik
SEOUL, Dec. 18 (Yonhap) -- SK Energy Co., South Korea's top refiner, said Friday
that an international consortium including SK has discovered crude in the
northern part of an oil field off the coast of Espirito Santo in southeastern
Brazil.
The discovery came after SK Energy announced in November that it found crude at
another area in the northern part of the oil field.
In October 2008, the local refiner discovered crude in the southern part of the
oil field, the first such discovery since the consortium started developing the
field in 2004.
The consortium comprises SK Energy, two U.S. oil explorers -- Anadarko Petroleum
Corp. and Devon Energy Corp. -- and India's IBV, the South Korean refiner said.
SK Energy holds a 26.67 percent stake in the field.
SK Energy launched its oil development business in August 2000 in Brazil,
exploring a deep-sea oil field 250 kilometers east of Rio de Janeiro with Devon
Energy, which has a 60 percent stake in that field.
The South Korean refiner started commercial production with Devon in the oil
field near Rio in 2007.
ksnam@yna.co.kr
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