Petrobras discovers good quality oil

Petrobras has discovered good quality oil during drilling of well 4-BRSA-946C-SPS, informally known as Biguá. Located in block BM-S-8, the well is in ultra deep waters of the Santos Basin pre-salt area, 270km away from the coast of the state of São Paulo. The discovery was confirmed by oil samples with 25º API, collected via cable test in the pre-salt reservoirs, at a depth of around 5380m. New studies will be executed based on the data acquired at the well, providing a better assessment of the accumulation’s size. The well is located in the Discovery Assessment Plan area of 1-BRSA-532A-SPS (Bem-te-vi), at a water depth of 2180m and 21km from the discovery well.
Drilling of the area’s third well, referred to as Carcará, will begin these next few days. The consortium will also continue the activities and investments required to assess the area based on the Assessment Plan approved by ANP (the Brazilian National Agency of Petroleum, Natural Gas and Biofuels). It is expected to be completed on December 2012.
Petrobras is the consortium operator (66%) in partnership with Shell Brasil Petroleo Ltda (20%) and Petrogal Brasil (14%). Shell’s stake was acquired from by Barra Energia do Brasil Petróleo e Gás Ltda (10%) and Queiroz Galvão Exploração e Produção S.A. (10%); the negotiation is subject to ANP’s final approval.
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