Petrobras Confirms 5-8BBOE at 9th Tupi Well


Tupi Area
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Petrobras has drilled and completed the ninth well in the Tupi area confirming that 5 to 8 billion barrels of light oil and natural gas are potentially recoverable from the pre-salt area of the Santos Basin.

The new well confirms that the oil accumulation extends to the extreme south of the Tupi Evaluation Plan area, but, also that the area contains an oil reservoir of about 420 feet (128 meters) wide. The well reduces uncertainties over the estimated volume of hydrocarbons in the area, claims Petrobras. The well, 3-BRSA-854-RJS, informally known as Tupi SW, was drilled in a water depth of 7,060 feet (2,152 meters). A formation test will be conducted to assess the productivity of the pre-salt reservoirs in the well, and once confirmed, the operator will analyze the installation in the southern area of the field.

The declaration of commerciality of the field should take place in December 2010.

Discovered in July 2006, Tupi is located in the BM-S-11 block in the Santos Basin, 155 miles (250 kilometers) from the southern coast of Rio de Janeiro. Petrobras serves as the operator, holding a 65% interest in the field. British BG Group holds 25%, and Portugal’s Galp Energia holds the remaining 10%.

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Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
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