Petrobras Wraps Up Drilling at Fourth Franco Well

Petrobras announced it has completed drilling the fourth well at the transfer of rights area in the pre-salt of Santos Basin. This discovery was previously announced on August 21st, 2012, when the well was still being drilled and had reached depths of 18,556 feet (5,656 meters).

The well, which is called 3-BRSA-1053-RJS (3-RJS-699), and is unofficially referred to as Franco SW, is located at water depths of 6,640 feet (2,024 meters), 130 miles (210 kilometers) from the city of Rio de Janeiro and 11 miles (17 kilometers) south of discovery well 2-ANP-1-RJS (known as Franco). The total depth of 5,973 meters was reached in a stratigraphic horizon established in the transfer of rights exploratory program.

Analyses of the oil recovered from carbonate reservoirs below the salt layer confirmed good quality oil (from 28 to 30 degree API). Samples were collected from reservoirs of similar thickness to those registered in the discovery well, which confirms the extension of the oil reservoirs towards the south of Franco area. The verified hydrocarbon column is 1,437 feet (438 meters) high.

This well is part of the Mandatory Exploratory Program at Franco area, where Petrobras acquired the right to produce up to 3 billion barrels of oil. The exploratory phase is underway and is expected to be completed by September, 2014.

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