Petrobras Flies High with New Santos Basin Find

Petrobras announced Tuesday a new accumulation of "good quality oil" at the Santos Basin, off the southeast coast of Brazil.

Petrobras discovered oil in ultra-deep waters at well 4-BRSA-946C-SPS, or Bigua, using rig Sevan Driller (UDW semisub). The well, located approximately 17650 feet (5,380 meters) below seabed, tested at 25 degrees API in an oil sampling, said Petrobras in a statement.

This discovery marks Petrobras' second discovery in the region. According to the statement, the Company will begin drilling the third well (Carcara) in a few days.

Petrobras acts as the consortium operator in partnership with Shell Brasil Petroleo Ltda (20 percent) and Petrogal Brasil (14 percent).


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