Petrobras Discovers More Gas in the Espirito Santo Basin

Well 6-ESS-168 (ANP acronym: 6-BRSA-486-ESS), which Petrobras is still drilling in the Espirito Santo Basin, has reached 130-meter thick gas-saturated sandstone reservoirs at a depth of 3,378 meters. The importance of this well's results, located in the Camarupim Field, stem from the confirmation of a substantial thickness of gas-saturated sandstone reservoirs, which should translate into an increase in the expected recoverable volumes in the area.

Located in the Espirito Santo Sea, in the BM-ES-5 exploratory concession, the well is being drilled nearly 37-km off the Espirito Santo coast, at a water depth of 763 meters. Petrobras, with a 65% stake, operates this block in partnership with El Paso, which holds the remaining 35%.

This preliminary result confirms the Camarupim Field extends to the north, the commercial viability of which was declared in late 2006. This field was discovered with the drilling of well 4-ESS-164A (ANP acronym: 4-BRSA-406A-ESS), which detected about 112 meters of gas-containing reservoirs.

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