Petrobras declares Tupi, Iracema commercial

Petrobras has submitted a Declaration of Commerciality to the National Petroleum Agency for Tupi and Iracema in block BMS-11 of the Santos basin.

Offshore staff

RIO DE JANEIRO – Petrobras has submitted a Declaration of Commerciality to the National Petroleum Agency for Tupi and Iracema in block BMS-11 of the Santos basin. The declaration also proposed naming Tupi the Lula field and Iracema the Cernambi field.

Total recoverable reserves were reported as 6.5 Bboe of 28° API oil at Lula and 1.8 Bboe of 30° API at Cernambi.

The final Evaluation Plan and also a Development Plan for each field accompanied the Declaration of Commerciality.

Block BMS-11 is operated by Petrobras, which holds 65% of the concession. BG Group, with 25% of the stakes, and Galp Energia, with a 10% interest, are the other parties to the consortium.

12/29/201

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