Tests confirm Santos basin light oil discovery

Petrobras has hit light oil with the second Tupi area well, 3-BRSA-496-RJS (3-RJS-646), proving the southward extension of the light oil discovery made by well 1-BRSA-369A-RJS (1-RJS-628A), in the deepwater Santos basin.

Offshore staff

RIO DE JANEIRO, Brazil -- Petrobras has hit light oil with the second Tupi area well, 3-BRSA-496-RJS (3-RJS-646), proving the southward extension of the light oil discovery made by well 1-BRSA-369A-RJS (1-RJS-628A), in the deepwater Santos basin.

Tupi is in block BM-S-11, which is operated by Petrobras, which holds 65%, in a consortium with BG Group (25%) and Petrogal – GALP ENERGIA (10%) as partners.

The second well lies 9.5 km (6 mi) southeast of the discovery well, 286 km (178 mi) off the southern coast of the city of Rio de Janeiro.

The well test suggests a production rate of 2,000 b/d of oil and 65,000 cm/d (2.3 MMcf/d) of natural gas, with flow being limited due to the test's operating installations and safety concerns.

More conclusive data about the discovery's potential will only be known after the other assessment process phases have been finalized, Petrobras says.

9/21/2007

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