Petrobras confirms another Lula offshore oil discovery

Offshore staff

RIO DE JANEIRO – The second post ANP agreement well drilled by Petróleo Brasileiro S.A. (Petrobras) offshore Brazil in the Santos basin presalt Tupi Northeast has discovered oil.

Well 1-BRSA-976-RJS (1-RJS-691), is northeast of Lula field, in water depth of 2,131 m (6,691 ft), and 255 km (158 mi) off the coast of the city of Rio de Janeiro.

The discovery produced 26º API oil by wireline testing from a well depth of 4,960 m (16,273 ft). It has identified so far an oil column in the pre-salt carbonate reservoirs of more than 290 m (951 ft) thickness.

The well has been cased in the reservoirs intervals. This well drilling continuance aims to investigate the final depth of such reservoirs, as well as to verify the oil/water contact. Upon completion of drilling, an extended well test is planned.

The transfer of rights agreement with the Brazilian National Oil, Natural Gas, and Biofuels Agency (ANP) establishes a volume of hydrocarbons that Petrobras can produce from the area and a price it will pay for that production.

3/09/2012

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