Deepwater find reported off Brazil

Offshore staff

A light oil find is reported by Petrobras in deepwaters offshore Brazil in Santos basin at well 1-BRSA-369A-RJS.

The well is in 2,140 m of water 250 km off Rio de Janeiro in block BM-S-11. Further work is needed to fully evaluating the reservoir.

Petrobras has a 65% stake in the block together with the British-owned BG with 25% and the Portuguese company Petrogal, 10%.

7/12/06