Petrobras Argentina makes second major discovery in Santa Cruz

BUENOS AIRES -- Petrobras Argentina, the Argentine unit of Brazil's oil and gas company Petroleo Brasileiro, has found an estimated 6 MMboe in the province of Santa Cruz.
The discovery is the second at Petrobras's Estancia Agua Fresca concession in the province, where it already produces almost 3,000 bopd and close to 3.2 MMcfd.
Petrobras Argentina operates the concession and is a 50% shareholder in it along with Compania General de Combustibles, according to a statement Petrobras Argentina sent to the Buenos Aires Stock Exchange Tuesday.
In November, Petrobras Argentina said it would invest $800 million over the next four years in Santa Cruz.