Further large oil find for Repsol Sinopec off Brazil

Feb. 27, 2012
Repsol Sinopec Brasil has discovered oil and gas in the Campos basin offshore Brazil.

Offshore staff

MADRID, Spain –Repsol Sinopec Brasil has discovered oil and gas in the Campos basin offshore Brazil.

The Pão de Açúcar well intersected two hydrocarbon accumulations with a total thickness of 500 m (1,640 ft). This is one of the thickest found to date off Brazil, the company says. Total pay was around 350 m (1,148 ft), according to partner Statoil.

The well was drilled in block BM-C-33 in a water depth of 2,800 m (9,186 ft), 195 km (121 mi) offshore Rio de Janeiro state. Early analysis suggests high quality oil with strong flow rates.

Production testing in a 200-m (656-ft) section of the pay zone generated 5,000 b/d of light oil and 28.5 MMcf/d of gas. This was a choked DST, with very limited drawdown.

Repsol Sinopec Brasil has a 35% interest, in partnership with Statoil (35%) and Petrobras (30%).

The partners plan further work to delineate the extent of the find. This is the third discovery in the concession followingSeat and Gávea.

2/27/2012

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