Petrobras Finds Oil Near Barracuda, Offshore Brazil

Petrobras announced the discovery of two new oil accumulations in reservoirs located in the Campos Basin, after the drilling of the exploratory well 6-BR-63A-RJS, located in the Barracuda concession area, some 100 km off the coast of the State of Rio de Janeiro, and at water depth of 860 meters.

One of the accumulations was discovered in pre-salt carbonate reservoirs, at a depth of 4,340 meters. Preliminary estimates indicate the presence of light oil (28 degrees API), with recoverable volumes of approximately 40 million barrels and the tests indicated a good productivity in the reservoirs.

Additionally, with well 6-BR-63A-RJS, another oil accumulation was also discovered in sandstone post-salt reservoirs. The volume of recoverable oil has been estimated at 25 million barrels in this accumulation.

Diamond Offshore's Ocean Worker semisub drilled exploratorty well 6-BR-63A-RJS.

Taking advantage of the production and outflow infrastructure already installed in the area, the Company is analyzing interconnecting well 6-BR-63A-RJS to Platform P-43, which is currently in operation at the Barracuda field. The discoveries will be the object of an Evaluation Plan, to be submitted to the National Petroleum, Natural Gas and Biofuel Agency (ANP) soon.

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