Petrobras Gears Up to Drill in Bahia Subsalt Layer
RIO DE JANEIRO (Dow Jones), Oct. 6, 2009
Brazilian state-run energy company Petrobras should begin drilling in the subsalt layer off the coast of Bahia state by the end of the year, the Estado news agency reported late Monday.
"The well we were drilling previously did not go beyond the salt layer because of mechanical problems. We should undertake new drilling in the coming months," said Guilherme Estrella, Petrobras director for prospecting and production.
The subsalt area has estimated reserves of between 5 billion and 8 billion barrels of oil, the largest discovery in the Americas in more than 30 years.
The subsalt layer covers an area of 149,000 square kilometers and stretches mainly from the coast of Santa Catarina in southern Brazil to Espirito Santo, the state immediately north of Rio de Janeiro.
If oil is discovered in southern Bahia then the oil-bearing area may prove much larger.
The offshore well will be drilled in the Jequitinhonha Basin. The Jequitinhonha River forms the state border between Espirito Santo and Bahia.
The well will be in block BM-J-3, which Petrobras is developing in partnership with Norway's StatoilHydro ASA.
Copyright (c) 2009 Dow Jones & Company, Inc.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea