Petrobras Resumes Subsalt Drilling Near Guara, Carioca Finds

Deepwater Discovery
(Click to Enlarge)

RIO DE JANEIRO (Dow Jones Newswires), Jan. 29, 2009

Brazilian state-run energy giant Petroleo Brasileiro resumed drilling Wednesday in a key subsalt exploration block in the promising Santos Basin, according to the country's National Petroleum Agency.

The Ocean Clipper rig started drilling in the Santos Basin's BM-S-9 block, ANP data showed. Two previous pioneer wells in the BM-S-9 block yielded the promising Guara and Carioca discoveries.

The drill rig will target a total depth of 5,592 meters, operating at a water depth of 2,140 meters, ANP data showed.

Petrobras is lead operator of the block with a 45% stake. BG Group has a 30% interest in the block, while Spain's Repsol YPF holds a 25% share.

The BM-S-9 block is part of a group of four blocks that many industry experts and government officials believe contains a massive geological structure that could hold more than 30 billion barrels of oil -- and possibly much more. The structure crosses the BM-S-8, BM-S-9, BM-S-21 and BM-S-22.

In 2008, nearly all of the test wells drilled in the region showed signs of oil or natural gas, resulting in the announcement of such finds as Bem-te-vi, Caramba, Carioca and Guara.

The last block in the area to be tested, BM-S-22, also showed promising signs. Last week, ExxonMobil notified the ANP that a test well, dubbed Azulao, showed traces of oil. ExxonMobil started the drilling program in October.

Separately, drilling also started at the BM-BAR-3 offshore block in the Barreirinhas Basin. U.S. independent Devon Energy has contracted the Deepwater Discovery rig to start drilling. The rig will target a depth of 4,825 meters in water 2,335 meters deep.

Devon holds a 100% stake in the exploration block.

Copyright (c) 2008 Dow Jones & Company, Inc.



Related Companies
 Company: Exxon Mobil Corporationmore info

 - ExxonMobil Finds Potential 1 Billion Barrel Oil Field Offshore Nigeria (Oct 27)
 - Exxon CEO Doesn't See Supply Shortage Pushing Up Oil Prices (Oct 19)
 - ExxonMobil To Start Drilling First Liberia Well In November (Oct 19)
 Company: Petrobrasmore info

 - Petrobras Sets 2020 For Start Of First Libra Oil Production System (Oct 27)
 - Petrobras Sets Up Minority Panel On Transfer of Rights Areas (Oct 24)
 - Petrobras Says Deep-Water Opening Luring Big Oil to Brazil (Oct 10)
 Company: BG Groupmore info
 - Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 5)
 - Sound Energy Appoints Ex-BG Exploration Lead (Aug 24)
 - Shell Misses Expectations As Earnings Plunge On Oil, BG Costs (Jul 28)
 Company: Transocean Ltd.more info

 - Transocean Notes Management Changes (Dec 3)
 - Transocean Has A Third Of Deepwater Rigs Seeking 2014 Work (Nov 21)
 - Transocean's Alaska Rig Contract with Shell Starts July 2014 (Nov 19)
 Company: Repsol more info
 - Bolivia, Repsol to Sign Deal to Develop Two Natural Gas Fields (Oct 26)
 - Jefferies: OPEC Output Cut Unlikely (Oct 11)
 - Spain's Repsol Provides $1.2B Credit Line For Venezuela Oil JV (Oct 7)
 Company: Diamond Offshoremore info

 - Diamond Offshore CEO Lawrence Dickerson to Retire (Sep 24)
 - Offshore Contractors Adjust Rig Fleets on Brazil Woes (Sep 20)
 - Diamond Beats Expectations Despite Drop in Earnings (Jul 25)
 Company: Devon Energymore info
 - E&P Companies Target Potential of STACK, SCOOP Plays (Aug 25)
 - US Frackers Surprise Themselves As Tweaks Keep Adding Barrels (Aug 3)
 - Devon Energy Posts Surprising Adjusted Profit On Cost Cuts (Aug 2)
 Company: ANPmore info
 - Brazil November Oil, Gas Output Lowest In A Year After Strike (Jan 4)
 - ANP: Brazil Produced Record 2.5 MMbpd Of Oil In August (Oct 1)
 - ANP: Brazil Oil And Gas Production Rises 13% In November (Jan 6)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Supervisor - Land
Expertise: Company Man|Drilling Consultant|Drilling Foreman / Drilling Supervisor
Location: Opportunities Throughout the Lower 48
Completions Supervisor
Expertise: Company Man|WellSite Supervisor|Workover or Completion
Location: Richmond, TX
Field Engineer-Wireline
Expertise: Drilling Foreman / Drilling Supervisor|Perforation
Location: Odessa, TX
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours