Petrobras Makes New Discovery in Espirito Santo

Petrobras has discovered a new field of light oil in the Espirito Santo Basin, the result of drilling the 4-ESS-164A well. The find is located 12 kilometers to the northeast of the Golfinho field. The estimated volume of the new discovery is approximately 280 million barrels of oil equivalent (boe). Preliminary data suggests that the oil is of excellent quality. The well was drilled by Diamond Offshore's semisub, Ocean Winner.

The recent drilling of well 4-ESS-160, also in the Espirito Santo Basin, has resulted in the discovery of new accumulations of hydrocarbons, adjacent to the Golfinho field, with estimated volumes of between 60 million and 80 million boe. Considering earlier estimates for the Golfinho field indicated a volume of 250 million boe, this new find ramps up potential reserves in the field to between 310 and 330 million boe.

Of the 17 wells drilled in the Espirito Santo Basin's light oil province, 15 produced evidence of hydrocarbons. This 88% exploration success ratio is characteristic of the major potential in the basin, where a further two exploratory wells are to be drilled before the end of the year. With these two discoveries, potential light oil reserves in the Espirito Santo Basin already amount to approximately 600 million boe.

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