Petrobras confirms deepwater discovery in Potiguar Basin


Petrobras reports that it has completed drilling wildcat well 1-BRSA-1205-RNS (1-RNS-158), located in the deep waters of the Potiguar Basin. The results confirm the discovery of intermediate oil (24º API), as previously announced to the market on Dec. 17, 2013.

The well, informally referred to as Pitu, is located at a water depth of 1,731 meters (5,679 feet), 55 kilometers (34 miles) off the coast of the state of Rio Grande do Norte.

The well reached the total depth of 5,353 meters (17,562 feet) and detected a hydrocarbon column of 188 meters (617 feet). A formation test was carried out, which confirmed the reservoir's satisfactory permeability and porosity.

Based on the results obtained, the consortium will proceed with the exploratory activities, with the aim of proposing a discovery evaluation plan to Brazil's National Petroleum, Natural Gas and Biofuels Agency (ANP).

Petrobras is the operator of concession BM-POT-17, with an 80% interest, in partnership with Petrogal Brasil S.A., which holds 20%.

As a result of the ongoing farm-out process and after obtaining the necessary approval from Brazilian authorities, BP Energy do Brasil Ltda will join as a concessionaire, and the interests of the consortium members in BM-POT-17 will be as follows:  Petrobras, 40% (operator); BP Energy do Brasil Ltda, 40%; and Petrogal Brasil SA, 20%.


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