Fourth Well Confirms Tupi's Potential of 5-8 Billion Barrels

Petrobras completed the drilling of the fourth well in the Tupi Assessment Plan area and the results reinforce the estimations of the potential of 5 to 8 billion barrels of recoverable light oil and natural gas in the pre-salt reservoirs of that area, located in ultra-deep Santos Basin waters.

The well, called 3-BRSA-755A-RJS (3-RJS-662A), is located 2,115 meters below the water line, nearly 265 km off the coast of Rio de Janeiro, and 18 km northeast of discovery well 1-RJS-628 (1-BRSA-369), known as Tupi.

A thick section (approximately 250 meters) of reservoirs was drilled and light oil (nearly 28 degrees API) was found, sampled via tests at depths beginning at 4,900 meters. Formation tests aimed to assess reservoir productivity are scheduled to begin in the next few weeks.

The Consortium, formed by Petrobras (65% - Operator), BG Group (25%) and Galp (10%), to explore block BM-S-11, where Tupi is located, will carry on with the activities and investments called for in the Assessment Plan which was approved by the NPA. The also foresees, in addition to the formation test to be done at the mentioned well, the drilling of other wells in the area.