Petrobras, OGX report oil discoveries offshore Brazil

Offshore staff

RIO DE JANEIRO – Both Petrobras (NYSE:PBR) and OGX Petróleo e Gás Participações S.A. (Bovespa: OGXP3; OTC: OGXPY.PK) have reported new oil finds offshore Brazil in the Santos basin.

Petrobras well 1-RJS-689A (1-BRSA-925A RJS), also called Dolomita Sul, is in 1,747 m (5,732 ft) of water 177 km (110 mi) offshore Rio de Janeiro state. While the well still is drilling at this time, cable test oil sampling in presalt carbonates at 5,660 m (18,570 ft) well depth returned “good quality” oil.

OGX well 3-OGX-74-SPS is the first extension of the Santos basin Natal field found 38º API oil in block BM-S-59 115 km (71 mi) offshore São Paulo in 196 m (643 ft) water depth. The well reached TD of 4,439 m (14,564 ft) in Santonian age sandstones.

4/13/2012

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