Under water.Like all major oil companies, Brazilian state-run oil company Petrobras PETROBRAS Petróleo Brasileiro SA (Brazilian oil company) is scrambling See scramble. to find new reserves while petroleum prices are sky high, deep water or not. Petrobras and Statoil, a Norwegian Norwegian associated in some way with Norway. Norwegian buhund, Norwegian sheepdog a medium-sized (26-40 lb), spitz-type dog with a short, dense coat in wheaten, black, red or sable, sometimes with black markings on the face, ears 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 remaining 10%. Pioneer Natural Resources, a U.S. oil and gas driller, plans to sell its deepwater drilling facilities in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and off southern Argentina. The company did not disclose terms but said unidentified parties had already expressed an interest at press time. |
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