Petrobras Strikes Oil in Sergipe-Alagoas Basin

Petrobras has identified hydrocarbons in well 1-BRSA-851-SES (1-SES-158) on the Barra prospect, located in the ultra-deep Sergipe-Alagoas Basin waters in the BM-Seal-11 concession. This new oil province in the Sergipe-Alagos Basin confirms the existence of large accumulations in the distal portions of the basin, implying there are greater volumes than those found in shallower waters. The identified hydrocarbons are also similar to those bearing oil in the deep Campos Basin waters, stated Petrobras. Well 1-SES-158 tested deposits in an accumulation developed in an area of about 17,297 acres (70 square kilometers), and the nearest field, Piranema is about 56 miles (90 kilometers) away. Drilling continues by the Ocean Courage semisub to sample older and deeper reservoirs. Petrobras operates the concession, holding a 60% interest; IBV-Brasil holds the remaining 40%.

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