Petrobras Unlocks Discovery at Abare West in Santos Pre-Salt

Petrobras, along with partners BG Group and Repsol, has unlocked another new discovery in the Santos Basin pre-salt BM-S-9 concession area, in ultradeep waters offshore Brazil.

The well 4-SPS-66C (4-BRSA-723C), know as Abaré Oeste (Abare West), proved the presence of an accumulation of oil and natural gas in a separate structure within the 1-SPS-50 (Carioca) evaluation plan area on BM-S-9. This is the fourth well drilled in block BM-S-9 and the existence of hydrocarbons was proved in all of them.

The evaluation plan area also encompasses the separate Iguaçu (4-BRSA-709 (4-SPS-60, announced April 2009) and Carioca discoveries (1-BRSA-491-SPS (1-SPS-50), announced September 2007). Abare West is approximately 30 kilometers from the Iguaçu discovery and 40 km from the Carioca discovery and 50 km to the west of the Guara discovery (1-BRSA-494-SPS), also in the BM-S-9 concession, announced June 2008.

Abare West is in 2163 meters of water, approximately 290 km off the coast of Sao Paulo State and encountered a hydrocarbon column containing oil, gas and carbon dioxide in pre-salt reservoir sections.

The discovery was proved via oil, natural gas and carbon gas content sampling via a cable test carried out in reservoirs located at depth of some 5150 m and analyses are being carried out with the samples that were recovered.

The Consortium, formed by Petrobras (45% - Operator), BG Group (30%), and Repsol (25%), will give continuity to the activities and investments that are required to assess this area pursuant to the Evaluation Plan approved by the National Petroleum Agency (ANP).