Petrobras Strikes Oil in Espirito with Potential of 150MM Barrels

Petrobras has informed the National Petroleum Agency (ANP) that it has made a discovery of good quality oil (27 degrees API) in the Espirito Santo Basin.

The new discovery (4-GLF-23-ESS) is located in the area of the Golfinho field, 60 kilometers away from the city of Vitoria, at a water depth of 1,374 meters. The well was drilled by the Peregrine I drillship.  The first estimates indicate a potential of 150 million barrels of recoverable oil.

The discovery, located in a concession that belongs 100% to Petrobras, opens new exploratory perspectives for the area and has the advantage of being located near infrastructure that is already installed in the Golfinho field. As a result, the volumes that were discovered will be incorporated to the Company’s reserves and may go into production in a short period of time.

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