Petrobras continues successful drilling in ultra-deepwater

Offshore staff

RIO DE JANEIRO – Extension well 3-SES-176D (3-BRSA-1178D-SES), informally named Farfan 1 has confirmed an extension of the previous Farfan discovery. The well confirmed a 51-m (167-ft) thick reservoir with good permeability and porosity, said Petrobras. The well is still being drilling and subsequent formation testing will assess reservoir productivity.

Farfan 1 is in BM-SEAL-11 concession area of ultra-deepwater block SEAL-M-426 in Sergipe basin. The well is 104 km (65 mi) offshore from the city of Aracaju, 5 km (3 mi) from the discovery well and at a water depth of 2,476 m (8,121 ft).

The consortium will proceed with the Discovery Evaluation Plan, which is under review by Brazil’s National Petroleum, Natural Gas and Biofuels Agency.

Petrobras (NYSE:PBR) is the operator of the consortium (60%) in partnership with IBV-Brasil (40%).

Petrobras also has confirmed an oil discovery in well 3-SPS-101 (3-BRSA-1179-SPS in the Carioca Discovery Evaluation Plan area, block BM-S-9 of the Santos basin presalt.

The well, informally Iguaçu Mirim, is 303 km (188 mi) offshore São Paula state, 34 km (21 mi) south of discovery well 1-SPS-50-Carioca), 99 km (62 mi) south of Iguaçu 4-BRSA-709-SPS, and in 2,158 m (7,078 ft) water depth.

The deadline for the Declaration of Commerciality is Dec. 31, 2013.

The consortium of BM-S-9 is operated by Petrobras (45%) in partnership with BG E&P Brasil (30%) and Repsol Sinopec Brasil (25%).

8/12/2013

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