Petrobras Finds New Oil at Santos Basin

Petrobras announced Tuesday the discovery of a new high quality oil accumulation in block BM-S-8, in ultra deep waters in the pre-salt of Santos Basin.

The discovery was found during drilling of well 4-SPS-86B (4-BRSA-971-SPS), unofficially known as Carcará, 144 miles (232 kilometers) off the coast of São Paulo State. Sampling confirmed the presence of oil of approximately 31 degree API in reservoirs 18,865 feet (5,750 meters) deep.

The well continues to be drilled with the aim of determining the lower limit of the reservoirs and to identify other possible zones of interest.

Carcará is the third well drilled in the area of the Discovery Evaluation Plan of 1-BRSA-532A-SPS (Bem-te-vi prospect), and is 12.43 miles (20 kilometers) from the discovery well, at a water depth of 6,650 feet (2,027 meters).

The Consortium will proceed with the activities and investments necessary for the evaluation of the area, according to the Evaluation Plan approved by the Oil, Natural Gas and Biofuels National Agency (ANP).

Petrobras is the operator of the consortium (66 percent) in partnership with Petrogal Brasil (14 percent), Barra Energia do Brasil Petróleo e Gás Ltda. (10 percent) and Queiroz Galvão Exploração e Produção S.A. (10 percent).

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