Maersk prepares Brazil exploration well

Danish oil company Maersk will drill its first oil well offshore Brazil in the BM-S-29 block of the Santos basin. The drilling will commence after Canadian oil company EnCana finishes with the rig it is using to drill a well in Campos basin.

Offshore staff

(Brazil)- Danish oil company Maersk will drill its first oil well offshore Brazil in the BM-S-29 block of the Santos basin. The drilling will commence after Canadian oil company EnCana finishes with the rig it is using to drill a well in Campos basin.

The block lies about 60 mi offshore from Santos in water depths ranging from 300 to 1,300 ft. The well in question will be drilled at a water depth of just under 300 ft. Once drilling commences, Maersk expects initial results in about three months.

This marks the first exploration well for Maersk after being awarded a license for the block in Brazil's fourth licensing round in 2002. Maersk has four additional exploration licenses in Brazil, all in the Santos basin. It has been studying seismic data on the region since being awarded these licenses.

Maersk is optimistic about the offshore exploration potential in Brazil and its chances for a successful exploration well test. The company plans to bid in the country's seventh licensing round scheduled for October 17-19.

10/10/2005

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