Petrobras Announces Oil Discovery At BM-S-9 At Santos Basin, Brazil

Published: 14-Apr-2009

By: Staff Writer Staff Writer Staff Writer

The consortium formed by Petroleo Brasileiro S.A. (Petrobras), BG Group plc, and Repsol YPF, S.A., to explore block BM-S-9, in ultra deep Santos basin waters, proved the existence of another light oil field in the pre-salt reservoirs. Block BM-S-9 is composed of two assessment areas: the area of well 1-BRSA-491-SPS (1-SPS-50), known informally as Carioca, and the area of well 1-BRSA-594-SPS (1-SPS-55), called informally as Guara.

The new well, 4-BRSA-709 (4-SPS-60), informally denominated as Iguaçu, is located in the assessment area of 1-SPS-50 (Carioca), some 340 kilometers off the coast of the State of Sao Paulo, at 2,140 meters from the water line.

The discovery was proved via an oil sampling in test made in the reservoirs located at an approximate depth of 4,900 meters.

The consortium will give continuity to the activities and investments that are required to assess the fields discovered in this area pursuant to the Assessment Plan approved by the NPA. A new well is foreseen to start being drilled in this area in the upcoming days.

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