Tupi appraisal well confirms the Brazilian field holds 5 to 8B barrels of oil and gas

Source: Petrobras

Petrobras (PBR) announces that it finalized the drilling of another well in the Tupi area which confirms the potential of the pre-salt reservoirs in that area.

The new well, 3-BRSA-795-RJS (3-RJS-666), and informally known as Tupi OW, is located in the area of the Tupi Evaluation Plan, at a water depth of 2,131 meters, nearly 270 kilometers of the coast of Rio de Janeiro, and 12.5 kilometers northeast of discovery well 1-RJS-628 (1-BRSA-369), known as Tupi.

The discovery was proved by means of light oil samplings (approximately 25º API) collected via a cable test from reservoirs located at depths greater than those of previously drilled wells and was notified to the National Petroleum Agency (ANP) today. The result reinforces the estimations of the potential of 5 to 8 billion barrels of recoverable light oil and natural gas in the Tupi pre-salt area.

The Consortium, formed by Petrobras (65% - Operator), BG Group (25%), and Galp (10%), to explore block BM-S-11, where Tupi is located, will carry on with the activities and investments called for in the Evaluation Plan which was approved by the ANP and foresees the drilling of other wells until the declaration of commerciality, which is expected to be made in December 2010.



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