China Petrochemical Corporation (Sinopec), one of China‘s oil giants, announced Monday that the group has prospected an oilfield in Brazil with a daily output of 5,000 barrels of oil and 810,000 cubic meters of natural gas. h The well site called Pao de Acucar lies in the BM-C-33 oilfield zone in Campos Basin, Brazil. The well was drilled from Aug. 8, 2011, to Jan. 10, 2012, and subsequent testing finished on Feb. 18, 2012.

The prospecting work was operated by Sinopec and Repsol, a Spanish oil giant.