Petrobras Strikes Light Crude in Santos Basin

Petrobras Strikes Light Crude in Santos Basin

Brazil's Petroleo Brasileiro (Petrobras) said Monday that it has struck light crude in its third well drilled in the Santos Basin pre-salt cluster's Sul de Guará region.

The well, named 1-BRSA-1045-SPS, is sited 199 miles (320 kilometers) off the coast of the State of São Paulo and it is located in the southern portion of Sapinhoá Field at a water depth of 7,222 feet (2,202 meters). 

Petrobras's cable tests confirmed that the discovery is of around 27 degree API. Under a 'Rights Transfer Agreement', the company is entitled to produce 319 million barrels of crude equivalent in the area.
Petrobras is currently trying to drill the well to a depth of 16,590 feet (5,058 meters) to determine the lower limit of the reservoir. 
After drilling is completed, the company plans to conduct a formation test to determine the productivity of the oil reservoir. 
Petrobras's chief executive, Maria das Gracas Foster, said on June 5 that the company will keep its investment levels "high", and that it is on track to produce six million barrels of crude per day by 2020.


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