Fourth Carioca presalt well in ultra-deepwater Brazil finds oil

Petróleo Brasileiro S.A. (Petrobras NYSE:PBR) has additional confirmation of light oil at the Carioca structure of the presalt Santos basin offshore Brazil.

Offshore staff

RIO DE JANEIRO –Petróleo Brasileiro S.A. (Petrobras NYSE:PBR) has additional confirmation of light oil at the Carioca structure of the presalt Santos basin offshore Brazil.

Well 3-BRSA-1101-SPS (3-SPS-100), informally known as Carioca Norte, reached TD of 5,576 m (18,289 ft.) in 2,152 m (7,060 ft.) of water 275 km (171 mi) offshore São Paulo.

This, the fourth well drilled into the Carioca, found an oil column of 83 m (272 ft.) in carbonate rock similar to that found in wells 1-BRSA-491-SPS (discovery),3-BRSA-861-SPS (Carioca Nordeste), and 3-BRSA-1023-SPS (Carioca Sela).

Block BM-S-9 is operated by Petrobras (45%) in partnership withBG E&P Brasil (30%) and Repsol Sinopec Brasil (25%).

Appraisal work continues in the area.

10/18/2012

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