Petrobras has discovered oil at the Pitu North 1 extension well in the Potiguar Basin offshore Brazil. Situated 37 miles off the coast of Rio Grande do Norte state in 6,050 ft of water, the well was drilled to a final depth of 13,780 ft and is the first extension of a 2013 discovery in the Pitu area. Profile analyses and fluid samples were used to prove the latest discovery, which will now undergo laboratory analysis. Petrobras, the operator, holds a 40% interest in the concession (BM-POT-17). BP (40%) and Petrogal (20%) hold the remaining interest.