Further large oil find for Repsol Sinopec off Brazil

Offshore staff

MADRID, Spain – Repsol Sinopec Brasil has discovered oil and gas in the Campos basin offshore Brazil.

The Pão de Açúcar well intersected two hydrocarbon accumulations with a total thickness of 500 m (1,640 ft). This is one of the thickest found to date off Brazil, the company says. Total pay was around 350 m (1,148 ft), according to partner Statoil.

The well was drilled in block BM-C-33 in a water depth of 2,800 m (9,186 ft), 195 km (121 mi) offshore Rio de Janeiro state. Early analysis suggests high quality oil with strong flow rates.

Production testing in a 200-m (656-ft) section of the pay zone generated 5,000 b/d of light oil and 28.5 MMcf/d of gas. This was a choked DST, with very limited drawdown.

Repsol Sinopec Brasil has a 35% interest, in partnership with Statoil (35%) and Petrobras (30%).

The partners plan further work to delineate the extent of the find.  This is the third discovery in the concession following Seat and Gávea.

2/27/2012

Repsol Sinopec Brasil Campos basin

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