Itaipu prospect well hits pay offshore Brazil

exploratory well on the Itaipu prospect in the Campos basin, offshore Brazil, has hit pay, according to operator Devon.

Offshore staff

OKLAHOMA CITY -- An exploratory well on the Itaipu prospect in the Campos basin, offshore Brazil, has hit pay, according to operator Devon. The well was drilled to a total depth of 16,240 ft (4,950 m) and encountered a 240-ft (73-m) oil column, at least 90 ft (27 m) of net oil pay, and no oil/water contact, the company says.

The Itaipu discovery is in 4,400 ft (1,341 m) of water, 6 mi (9.6 km) southeast of the Jubarte field and 16 mi (26 km) north of the 2008 Wahoo discovery on block BM-C-30. Devon has a 25% working interest in both the Wahoo discovery well and a successful appraisal well drilled at Wahoo earlier this year.

Block BM-C-32 is one of seven offshore exploratory blocks in Brazil held by Devon, six of which are in the pre-salt trend. Devon has identified 20 prospects (including Wahoo and Itaipu) on its leases with net unrisked resource potential of 2 to 4 Bbbl of oil. The Deepwater Discovery drillship, currently under long-term contract to Devon, will be used for the company’s 2010 exploration program, which includes four planned wells on concession BM-C-34 as well as delineation of the Itaipu discovery.

12/17/2009

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