Petrobras Makes 8th Discovery in Tupi

Petrobras found additional light oil in the pre-salt reservoirs of the Tupi area. The eighth well, 3-RJS-675A, known as Iracema Norte, was drilled in the Tupi Evaluation Plan area in a water depth of 7,372 feet (2,247 meters), about 149 miles (240 kilometers) from the coast of Rio de Janeiro and 4 miles (6 kilometers) to the northeast of the Iracema well – 4-RJS-647.

The 3-RJS-675A well was drilled in a lower structural position than well 4-RJS-647, confirming the depth of the oil/water contact. It also discovered light oil with the same characteristics as the Iracema well, with a gravity of about 29 degree API.

Data obtained from this and other wells drilled in the area reinforces its estimate of 5 to 8 billion barrels of recoverable light oil and natural gas in the pre-salt reservoirs of the Tupi area.

The consortium will continue the program and investments outlined in the Evaluation Plan approved by the ANP. This provides for drilling of additional wells until a declaration of marketability, expected in December.

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