SAO PAULO: Petrobras has announced a new find of light crude oil in the huge Campos basin area in the southeast, potentially as much as 25 million barrels.

Brazil's state oil giant said the find is located in shallow waters, north of the Campo de Marimba.

"Recoverable volume is estimated at 25 million barrels," Petrobras' statement said.

Because there is operational infrastructure nearby, the new reserves should begin to be extracted by August 2010, Petrobras said.

In September, Petrobras pumped an average two million barrels per day, a record that was up 5.58 percent from a year earlier.