Petrobras Hits Oil Pay in Santos Basin

Petrobras has made a discovery of good quality oil in the pre-salt reservoirs of Block BM-S-9 in the ultra-deep waters of the Santos Basin. The discovery was made in well 3-BRSA-861-SPS, informally known as Carioca Nordeste.

The consortium will give continuity to the investments provided in the Discovery Evaluation Plan, presented to the National Petroleum Agency in 2007, to confirm the dimensions and characteristics of the reserve. Carioca Nordeste lies in a water depth of 7,057 feet (2,151 meters) about 171 miles (275 kilometers) off the state of Sao Paulo in the evaluation area of the Carioca well.

Petrobras operates the find, owning a 45% interest; BG Group owns 30%; and Repsol owns 25%.

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