Petrobras Strikes Oil in Ultra-Deepwater Santos Basin

Petrobras announced that the consortium formed by Petrobras (45% - Operator), BG Group (30%), and Repsol (25%), to explore block BM-S-9, in ultra deep Santos Basin waters, has notified the National Petroleum Agengy (ANP) that it has made a discovery of light oil in the pre-salt reservoirs, after the drilling of a new well in the area.

The BM-S-9 is composed of two evaluation areas: the area of well 1-BRSA-491-SPS (1-SPS-50), known as Carioca, and the area of well 1-BRSA-594-SPS (1-SPS-55), called Guara.

The new well, 4-BRSA-709 (4-SPS-60), denominated as Iguacu, is located in the evaluation area of 1-SPS-50 (Carioca), some 340 km off the coast of the State of Sao Paulo (see the figure below), at 2,140 meters from the water line.

The discovery was proved by means of an oil sampling made via a cable test in reservoirs located at a depth of 4900 m.

The Consortium will give continuity to the activities and investments that are required to evaluate the fields discovered in this area pursuant to the Evaluation Plan approved by the ANP. A new well is foreseen to start being drilled in this area in the upcoming days.