Petrobras Strikes Oil Near Pampo Field, Offshore Brazil

Petrobras has completed the drilling of exploratory well 4-PM-53 in shallow waters (200 meters) offshore Brazil. Located in the post-salt area of the Campos Basin, the well has discovered a new producer area adjacent to the Pampo Field.

Drilled six kilometers away from the PPM-1 (Pampo platform), the well detected the existence of a continuous, 128-meter net pay column of 20 degree API oil in Albian calcareous rocks located in reservoirs of excellent porosity and permeability. The volume of recoverable oil has been estimated at 25 million barrels.

Due to the quality and thickness of the reservoir, it is estimated the oil well's flow will be approximately 3,000 barrels per day. This discovery opens an important exploratory front to the east of the Pampo and Bicudo concessions.

Since there is already production infrastructure installed at the site, the well will go on stream later on this year. The possibility of interconnecting it to the PPM-1 or to platform P-7, which is producing in the Bicudo field, is under analysis.

This discovery is the outcome of the exploratory strategy of intensifying work in areas that neighbor fields already in production aiming to take advantage of the capacity of the existing facilities, to reduce production costs, and to speed up the production of new volumes of oil. Petrobras intends do drill further wells in the region.