Brazil's ANP Discloses Three Recent Oil, Gas Finds

RIO DE JANEIRO (Dow Jones Newswires), Apr. 13, 2009

Brazil's National Petroleum Agency disclosed three recent oil and gas finds over the long holiday weekend, with state-run energy giant Petroleo Brasileiro SA, or Petrobras, holding stakes in all of the discoveries.

The finds were listed on the ANP's Web site over the weekend, with the report date listed as Thursday.

Petrobras said it found traces of oil and natural gas in the 9URG5DRJS well at the BS-500 offshore block in the Santos Basin. Petrobras holds a 100% stake in the block.

Recent drilling data showed the Petrobras X rig in operation at the block, drilling in 1,357 meters of water and targeting a total depth of about 4,900 meters.

Petrobras was also part of two onshore discoveries reported to the ANP.

Brazilian independent Partex Brasil Ltda. once again found traces of oil at the POT-T-514 block in the Potiguar Basin. The Sonda Pioneira Nordeste rig drilled the test well, which had a final target depth of 778 meters.

In February, Partex also reported traces of oil at a separate well in the block. Partex operates the block with a 50% stake, while Petrobras holds the remaining 50%.

Petrobras also said it found traces of oil in the BT-ES-15 block in the Espirito Santo Basin. Petrobras holds a 100% stake in the block.

The Drillfor-8 rig drilled the 1BRSA718ES test well to a target depth of 2,008 meters, according to ANP drilling data.

Oil companies operating in Brazil must inform the ANP of indications of oil, gas or hydrocarbons in any exploratory well within 72 hours. The disclosures are routine, and do not indicate commercial viability.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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