READING, UK -- BG Group has made an oil discovery with the Iara well (1-BRSA-618-RJS) in the BM-S-11 concession in the pre-salt Santos basin. The exploration well discovered 26-30 API gravity crude oil, the company says.
The well discovered a particularly thick Sag reservoir interval with excellent porosity. Gross recoverable volumes are currently estimated to lie between 3 and 4 Bboe, according to the company.
Further appraisal and production testing is planned. The well will be suspended with the view to performing a future drill stem test.
The Iara well lies approximately 230 km (143 mi) off the coast of Rio de Janeiro in water depth of 2,230 m (7,316 ft). The well reached a total depth of approximately 6,080 m (19,948 ft).