Petrobras Discovers Light Oil in Espirito Santo

Petrobras has found reservoirs saturated with light oil (around 30 degrees API) through well 4-ESS-172-ES. The reservoirs, located under a thick layer of salt, have shown to have excellent productivity in a formation test carried out in a lined well at a water depth of 1,011 meters and at a final depth of 4,862 meters. This test indicated potential production may top-out at 10,000 barrels per day, while preliminary geological studies reveal an in place potential of some 570,000,000 barrels.

This accumulation is situated in old BC-60 block, off the coast of the state of Espirito Santo, nearly 120 km to the south of the city of Vitoria and 15 km southeast of the Jubarte oil field. The discovery is a new horizon that is part of the CAXAREU oil field, in northern Campos Basin, and was declared commercial to the National Petroleum Agency (NPA) in December 2006.

The discovery was verified during the work carried out for the 1-ESS-121-ESS Discovery Assessment Plan in an area in which Petrobras is operator and holds a 100% stake. Additional studies will be undertaken to better evaluate the reserves available in this field.

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