Petrobras says that the consortium formed by the Company (operator, 65%), BG Group (25%) and Galp Energia (10%), to explore block BM-S-11, in ultradeep Santos Basin waters, completed the drilling of well 1-BRSA¬618-RJS (1-RJS-656) and proved the relevant discovery of light oil in the pre-salt reservoirs. The recoverable volume is estimated at 3 to 4 billion barrels of light oil and natural gas in that area.

When the light oil discovery made in Iara, on August 7 2008, was announced, the well was still being drilled in search of deeper objectives. These objectives were reached and the quality and porous thickness of the oil-bearing reservoirs proved to be even better than the initial expectations. The new discovery, communicated today to the NPA, was confirmed by a cable test and revealed the existence of light oil, with specific gravity between 26° and 30° API, in an area of some 300 square kilometers that has been very well defined seismically. The set of data that were collected, in association with the knowledge that has already been acquired for the pre-salt, allowed the above-mentioned volume to be calculated.

Block BM-S-11 is composed of two exploratory areas. In one of them, the first well, 1-BRSA-369A-RJS (1-RJS-628A), known as Tupi, was drilled and resulted in the discovery announced on June 11 2006, with an estimated recoverable volume of 5 to 8 billion barrels of light oil and natural gas, the Assessment Plan for which, as approved by the NPA, is currently in execution (grey area in the map).

The discoverer well, called 1-BRSA-618-RJS (1-RJS-656) and known as Iara, is in an area north of Tupi (green area in the map), some 230 km off the coast of the city of Rio de Janeiro and at 2,230 meters from the water line. The final depth that was reached was 6,080 metros.

The consortium will give continuity to the exploratory activities and to the investments in this area via a Discovery Assessment Plan to be submitted to the NPA, as provided for in the Concession Agreement, in order to characterize the field better.

Tags: Petrobras