Petrobras Finds Oil at Third Extension Well in Sergipe Basin Off Brazil

Petroleo Brasileiro S.A. (Petrobras) announced Monday that it has confirmed the extension of the light oil and gas discovery, as announced to the market Aug. 9, 2013, by drilling the third extension well in ultra deepwaters of Sergipe Basin’s Farfan area offshore Brazil.

Drilling activities have also detected the presence of a new, shallower, 223 foot (68-meter) thick light oil-bearing reservoir. Well 3-SES-186 (Petrobras nomenclature) / 3-BRSA-1286-SES (ANP nomenclature) is located 64 miles (103 kilometers) from the city of Aracaju and 6.2 miles (10 kilometers) from discovery well, at a water depth of 8,094 feet (2,467 meters). Well drilling is set to continue until reaching the total depth of 19,881 feet (6,060 meters).

This accumulation is part of the Sergipe-Alagoas Basin ultra-deep water exploratory project, as provided for in the 2014-2018 Business and Management Plan.

Petrobras, consortium operator (60 percent) in partnership with IBV-BRASIL (40 percent), will proceed with the activities outlined in the Discovery Evaluation Plan (DEP), as approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

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