Petrobras declares commercial viability of discovery off Brazil

The Consortium of Petrobras and Repsol has delivered a Declaration of Commercial Viability to the National Petroleum Agency (ANP) with respect to a light oil and gas discovery in reservoirs above the salt layer in the BM-S-7 block in the Santos basin.

Offshore staff

RIO DE JANEIRO -- The Consortium of Petrobras and Repsol has delivered a Declaration of Commercial Viability to the National Petroleum Agency (ANP) with respect to a light oil and gas discovery in reservoirs above the salt layer in the BM-S-7 block in the Santos basin.

The new field, known as Piracucá, is located off the coast of the state of São Paulo, approximately 200 km (124 mi) from the city of Santos in a water depth of 200 m (656 ft). The total volume of the reserve in situ is estimated at 88.5 MMcm (about 550 MMboe).

04/07/2009

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