This means developing the field will be faster and cheaper, and could support a decision by Anadarko to lay sizable pipelines to this remote part of the Gulf known as Keathley Canyon (the nearest lines are some 70 miles away).
Brazilian oil major Petrobras (PBR) said in a press release late Thursday that it has found the equivalent of 700 million barrels of oil in deep water Gulf of Mexico at the Keathley Canyon bloc it runs together with ExxonMobil (XOM) and Italian oil firm Eni.