Petrobras seeks to allay Gulf of Mexico oil spill worries with new deepwater drilling technology

The company will use a floating production storage and offloading (FPSO) unit, a ship that stores and processes oil until it can be transferred to an oil tanker to transport it to the coast.
Production will begin in two oil fields in water depths of nearly two miles, the deepest location at which an FPSO has been used to date anywhere in the world.
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Source: The Telegraph