Iara well test confirms pay

Formations tests on the Iara well (1-BRSA-618-RJS or 1-RJS-656) in the Santos basin pre-salt, offshore Brazil, have confirmed estimated recoverable volumes of 3 to 4 Bbbl of light oil and natural gas.

Offshore staff

READING, UK -- Formations tests on the Iara well (1-BRSA-618-RJS or 1-RJS-656) in the Santos basin pre-salt, offshore Brazil, have confirmed estimated recoverable volumes of 3 to 4 Bbbl of light oil and natural gas. The tests produced light 28° API oil, according to operator Petrobras.

Due to rig relocation demands, the well tests were not fully completed. The company is planning another well in the area in 2010.

12/09/2009

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