More positive results for Petrobras at Transfer of Rights area

Offshore staff

RIO DE JANEIRO – Petrobras has completed drilling of the Franco SW well at the Transfer of Rights area in the Santos basin presalt layer.

The well 3-BRSA-1053-RJS (3-RJS-699) is located at water depths of 2,024 m (6,640 ft), 210 km (130 mi) from Rio de Janeiro and 17 km (11 mi) south of the discovery well 2-ANP-1-RJS (Franco). The total depth of 5,973 m (19,596 ft) was reached in a stratigraphic horizon established in the Transfer of Rights Exploratory program.

Analyses of the oil recovered from carbonate reservoirs below the salt layer confirmed good quality oil (from 28 to 30° API). Samples were collected from reservoirs of similar thickness to those registered in the discovery well, which confirms the extension of the oil reservoirs south of the Franco area. The verified hydrocarbon column is 438 m (1,437 ft) high.

This well is part of the Mandatory Exploratory Program at Franco area, where Petrobras acquired the right to produce up to 3 Bbbl. The exploratory phase is under way and is expected to be completed by September 2014.

9/20/2012

Franco

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